“In recognition of the contributions of our front-line associates, we are awarding over $100 million in discretionary and profit-sharing bonuses to them this quarter.” – Lowe’s CEO

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MOORESVILLE — Lowe’s Cos. (LOW) on Tuesday reported fiscal second-quarter earnings and revenue that were good enough to beat the Street and lead its CEO to handing out more than $100 million in bonuses.

Earnings came in at $2.67 billion. The Mooresville-based company said it had net income of $4.56 per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $4.49 per share.

The home improvement retailer posted revenue of $24.96 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $24.94 billion.

“Our investments in our Total Home strategy continued to drive growth across Pro [program] and online this quarter. And we are excited by our recent launch of same-day delivery nationwide and the expansion of our rural merchandising framework to roughly 300 stores,” said Marvin Ellison, Lowe’s chairman and CEO, in a statement.

“Our ability to reduce expenses while improving customer service is the result of excellent execution by our team, and we remain confident in the mid- to long-term outlook for the home improvement industry,” he added.

“In recognition of the contributions of our front-line associates, we are awarding over $100 million in discretionary and profit-sharing bonuses to them this quarter.  I would like to thank our front-line team for serving our customers and supporting our communities.”

Lowe’s expects full-year earnings in the range of $13.20 to $13.60 per share, with revenue in the range of $87 billion to $89 billion.