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Lowe's lifts annual profit forecast on higher prices, steady demand

Reuters · 11/16/2022 06:04
Lowe's lifts annual profit forecast on higher prices, steady demand

- Lowe's Cos Inc LOW.N raised its full-year profit forecast on Wednesday, encouraged by higher prices and steady demand for home improvement products despite decades-high inflation and cooling home prices.

The company said it expected full-year earnings of $13.65 to $13.80 per share, compared with its prior estimate of $13.10 to $13.60.

Analysts on average forecast annual profit of $13.54 per share, Refinitiv IBES data showed.


(Reporting by Deborah Sophia in Bengaluru; Editing by Milla Nissi)

((DeborahMary.Sophia@thomsonreuters.com;))