Lowe's Cos. Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 was 61 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.
EPS climbed 27.8% year over year from 48 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $596.3 million, an increase of 19.4% from $499.4 million in the third quarter ended Nov. 1, 2013.
The normalized profit margin increased to 4.4% from 3.9% in the year-earlier period.
Total revenue grew 5.6% on an annual basis to $13.68 billion from $12.96 billion, and total operating expenses climbed from the prior-year period to $12.59 billion from $12.03 billion.
Reported net income grew 17.3% year over year to $578.2 million, or 59 cents per share, from $493.0 million, or 47 cents per share.
