FILE- In this Feb. 23, 2018, file photo sales associate Bob Henriques, of Framingham, Mass., moves items at a Lowe's retail home improvement and appliance store, in Framingham. Lowe's Companies Inc. reports earnings on Wednesday, May 23. (AP Photo/Steven Senne, File)

Lowe's first quarter falls flat

May 23, 2018 - 6:27 am

MOORESVILLE, N.C. (AP) — Lowe's, which named a new CEO this week, is reporting weak profit and revenue numbers for its first quarter.

The Mooresville, North Carolina, company said Wednesday that profits were $988 million, or $1.19 per share.

That's 3 cents shy of Wall Street expectations, according to a survey by Zacks Investment Research.

Revenue of $17.36 billion also missed the mark.

Lowe's expects full-year earnings to be $5.40 to $5.50 per share.

Shares of Lowe's Cos., which have fallen 8 percent this year, are down more than 4 percent before the opening bell.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOW at https://www.zacks.com/ap/LOW

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