What Analyst Projections for Key Metrics Reveal About Lowe's (LOW) Q3 Earnings

Core Insights - Analysts forecast Lowe's (LOW) will report quarterly earnings of $2.98 per share, reflecting a year-over-year increase of 3.1% [1] - Expected revenues are projected to be $20.86 billion, indicating a 3.4% increase compared to the same quarter last year [1] Earnings Estimates - The consensus EPS estimate has been revised upward by 0.1% over the past 30 days, showing analysts have reappraised their initial projections [2] - Changes in earnings estimates are crucial for predicting investor reactions, with empirical research indicating a strong correlation between earnings estimate revisions and short-term stock performance [3] Key Metrics - Analysts estimate the total number of stores will reach 1,755, up from 1,747 in the same quarter last year [5] - The estimated total sales floor square footage is projected at 195.65 million, compared to 195.00 million in the same quarter last year [5] - Sales per store are expected to be $11.97 million, an increase from $11.55 million year-over-year [6] - The average store size selling square feet is estimated to be 111.72 thousand, slightly down from 112.00 thousand in the previous year [6] Stock Performance - Lowe's shares have decreased by 4.8% in the past month, contrasting with the Zacks S&P 500 composite's increase of 1.4% [6] - With a Zacks Rank of 3 (Hold), Lowe's is expected to closely follow overall market performance in the near term [6]