Best Buy (BBY) Q4 Earnings Beat Estimates, Guides FY2018
Best Buy Co., Inc. BBY, the specialty retailer of consumer electronics, came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings of $1.95 per share beat the Zacks Consensus Estimate of $1.66, and increased 27.5% from the prior-year quarter.
Including one-time items from continuing operations, quarterly earnings came in at $1.91 cents per share compared with $1.39 in the year-ago quarter.
Best Buy Co., Inc. Price, Consensus and EPS Surprise
Best Buy Co., Inc. Price, Consensus and EPS Surprise | Best Buy Co., Inc. Quote
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been stable in the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of about 25.7%.
Revenues: Best Buy generated total revenue of $13,482 million, down 1% from the year-ago period and also came below the Zacks Consensus Estimate of $13,608 million. Further, Enterprise comparable-store sales (comps) fell 0.7%.
Outlook: Best Buy initiated its guidance for fiscal 2018 (comprising 53 weeks). Management projects Enterprise revenue to rise nearly 1.5% in fiscal 2018. However, on 52-weeks basis, the same is expected to remain flat year-over-year.
For the first quarter of fiscal 2018, Enterprise revenue is anticipated in the band of $8.2–$8.3 billion. Further, both the Enterprise and Domestic comps are expected to decline in the range of 1–2% and 1.5–2.5%, respectively. However, International comps are projected in the band of flat to up 3%. Moreover, adjusted earnings per share for the fiscal first quarter are anticipated in the range of 35–40 cents.
Key Events: During the fiscal fourth quarter, Best Buy returned approximately $314 million via share repurchases and dividends. Further, management announced a 21% hike in dividends.
Zacks Rank: Currently, Best Buy carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Best Buy’s shares are down nearly 4.3% owing to soft sales results.
Check back later for our full write up on Best Buy’s earnings report!
Everything You Need to Know About Snapchat BEFORE It Goes Public
You may be curious about the buzz surrounding Snap Inc.'s IPO on March 2. With the company expected to be valued around $22 billion, it is expected to be the largest IPO since 2014. But should you snap up this tech stock on Day 1?
In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges. You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months.
Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download thisIPO Watch List today for free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Best Buy Co., Inc. (BBY): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
