Lowe’s Companies reported better-than-expected earnings of US$ 476M (or US$0.32 per share) for its first quarter ended May 1, 2009. Though profit fell 22% from US$0.41 per share in Q01 2008, the retailer still trumped earnings estimates of US$ 0.25 per share. Lowe’s predicts Q02 2009 earnings of between US$0.51 and US$0.55 per share, and increased its full year outlook to between US$1.13 and US$1.15 per share, pushing its stock up 8.18% to US$ 19.96 at yesterday’s close.
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