Lowe's says its earnings will beat forecasts

WILKESBORO, N.C. - Lowe&#39;s Cos. said Monday its fourth-quarter earnings should be higher than previously estimated because of better than expected weather and consumer spending. <br> <br> &#34;Our earnings are also expected to exceed previous guidance of 22 cents to 24 cents a share due to above plan sales and margin growth as well as a continuing focus on expenses,&#34; said Robert Niblock, executive vice president and CEO. <br> <br> &#34;Better than anticipated weather and a resilient consumer, combined with our merchandising and operations focus have resulted in fourth quarter comparable store sales in excess of our previous guidance of 3 to 5 percent.&#34; <br> <br> Analysts estimated the company&#39;s fourth quarter revenue would be $5.19 billion, according to Thomson Financial/First Call. <br> <br> Lowe&#39;s fiscal fourth quarter ended Feb. 1 and results will be released on Feb. 25. <br> <br> Shares of Lowe&#39;s gained $1.21 to $46.91 per share at midday on the New York Stock Exchange. <br> <br> <br>

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