Updated:MOORESVILLE, N.C. (AP)-quarter net income increased 10 percent, bolstered by improving weather.
The home improvement company's performance beat analysts' expectations, but the Mooresville, North Carolina, company lowered its full-year revenue outlook slightly, citing its year-to-date sales and prior assumptions for the second half.
Lowe's Cos. earned $1.04 billion, or $1.04 per share, for the three months ended Aug. 1. A year earlier it earned $941 million, or 88 cents per share.
Analysts expected $1.02 per share.
Revenue rose 6 percent to $16.6 billion from $15.71 billion, topping Wall Street's $16.57 billion forecast.
Sales at stores open at least a year, a key indicator of a retailer's health, climbed 4.4 percent.
Lowe's now anticipates full-year revenue rising about 4.5 percent. Its prior outlook was for an approximately 5 percent increase.
Lowe's 2Q profit rises as weather improves
Remains of Erica Parsons discovered five years after she disappeared
Lanesboro prison staff members stabbed by inmates, airlifted to hospital
Weapon found on Rocky River High School campus, officials say
Sponsored: Golf with Braylon Beam, celebrities to fight childhood cancer