Lowe's Beats Expectations, Acquires Building Materials Firm | JQJO

Lowe's exceeded Wall Street's Q2 earnings expectations, reporting $4.33 EPS versus the expected $4.24, on revenue matching predictions at $23.96 billion. Despite a weak home improvement market, Lowe's saw solid performance in DIY and pro segments. To boost pro sales, Lowe's acquired Foundation Building Materials for $8.8 billion, following a recent acquisition of Artisan Design Group. The company anticipates flat to 1% comparable sales growth for the full year, projecting total sales of $84.5 billion to $85.5 billion. Shares rose nearly 3% following the announcement.