Is the Lowe's Turnaround Thesis Busted? [The Motley Fool]
Lowe's Companies, Inc. (LOW)
Last lowe's companies, inc. earnings: 2/26 06:00 am
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Source: The Motley Fool
Is the Lowe's Turnaround Thesis Busted? Or do investors just need to be patient? Activist investor Bill Ackman, who runs Pershing Square Holdings ( LSE:PSH ) , has a large stake in Lowe's ( NYSE:LOW ) . Along with fellow activist investor D.E. Shaw, Ackman shook up company management last year when he installed ex- J.C. Penney CEO Marvin Ellison at the helm, with the goal of improving operating metrics against better-performing rival Home Depot . Ellison took over at the home-improvement giant last July, but apparently, things are off to a rockier-than-anticipated start. While Lowe's managed to beat analyst expectations on revenue in its first quarter, earnings per share fell well short of expectations, with management lowering full-year guidance from a range of $6.00 to $6.10 per share down to $5.45 to $5.65. The stock fell more than 14% last week after the release of the earnings report. This was obviously not the start Ackman and Shaw were hoping for, but is their turnaround the
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LOW
Earnings
- 11/19/24 - Beat
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Sec Filings
- 11/19/24 - Form 8-K
- 10/4/24 - Form 4
- 10/4/24 - Form 4
- LOW's page on the SEC website