Lowe’s Q1 results exceed estimates

MOORESVILLE, N.C. — Lowe’s Cos. reported its Q1 net earnings rose 27.8 percent to $1.34 billion, or $1.76 per share. Adjusted earnings of $1.77 per share beat an analyst forecast of $1.32 per share. Same-store sales soared by 11.2 percent, where analysts expected an increase of just 3.4 percent. Overall net sales were up nearly 11 percent to $19.68 billion, while online sales jumped by 80 percent as customers flocked to e-retail with restrictions in effect on in-person shopping.