Lowe’s Posts Higher 2Q Earnings Boosted By Housing Recovery

Lowe’s Companies, Inc. (NYSE:LOW), the second largest home improvement retailer worldwide, reported analyst-beating second-quarter earnings. Backed by an improved housing market, the retailer’s net income jumped 26 percent to $941 million, or 88 cents a share, up from $747 million or 64 cents, during the past year. Beats analysts’ estimates During the last quarter, Lowe’s Companies, Inc. (NYSE:LOW) exceeded the average analysts’ estimates of 79 cents, as projected in a Bloomberg survey. The second largest home improvement retailer’s sales have long trailed those of rival The Home Depot, Inc. (NYSE:HD). Yesterday, Home Depot Inc. posted its second quarter earnings which…