Lowe’s earnings beat estimates as revenues miss

Lowe’s Cos. reported Q4 net income of $957 million, compared to $1.21 billion in the comparable period of 2021. On a per-share basis, adjusted earnings came to $2.28, beating Wall Street estimates of $2.21 per share. Revenues of $22.45 billion fell short of an expected $22.69 billion but were up from $21.34 billion in the previous Q4. For the full year, the company reported operating income of $6.4 billion on sales of $97 billion.