Lowe's Cos. Inc. on Feb. 1 said it expects the U.S. tax reform to negatively impact the company's 2017 fourth-quarter diluted earnings per share by about 14 cents. Diluted EPS in the prior-year quarter was 74 cents.
The assumption is based on the company's expected additional net tax expense of about $75 million in the fourth quarter and its move to pay a one-time bonus of up to $1,000 to its employees. Lowe's also confirmed earlier reports about its updated benefits program.
Meanwhile, the home improvement retailer said it expects the net impact of tax reform on its tax provision and cash taxes paid for fiscal 2018 to be positive.
