Lowe’s Cos.’ Q2 sales, profits beat estimates

MOORESVILLE, N.C. — Lowe’s Cos. exceeded estimates for its Q2 sales and profits as homebound customers turned to DIY projects during the quarter. Same-store sales rose by 34.2 percent, compared to forecasts of an increase of just 13.2 percent. Net sales grew by 30.1 percent to $27.3 billion, beating estimates of $24.27 billion. Net earnings soared by nearly 70 percent to $2.83 billion or $3.74 per share, even with a $460 million in store safety and employee benefits. Excluding special items, earnings came to $3.75 per share, ahead of an estimated $2.95.