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This Major Retailer Just Cut Its Outlook. Is the Stock Worth Buying Anyway?

This Major Retailer Just Cut Its Outlook. Is the Stock Worth Buying Anyway?

During its fiscal 2023 first quarter (ended May 5), Lowe's (NYSE: LOW) generated revenue of $22.3 billion (down 6% year over year) and adjusted diluted earnings per share of $3.67 (up 5%). While these results were a bit of a mixed bag, they exceeded Wall Street estimates. Many retailers, including Lowe's, are faced with an uncertain economic backdrop.