Big Lots earnings for the fourth quarter of 2018 have BIG stock heading higher on Friday.
Big Lots (NYSE:BIG) reported earnings per share of $2.57 for the fourth quarter of the year. This matches the company’s earnings per share reported in the same period of the year prior. It was also a boon to BIG stock by beating out Wall Street’s earnings per share estimate of $2.30 for the quarter.
Net income reported by Big Lots during the fourth quarter of 2018 comes in at $108.05 million. This is an increase over the company’s net income of $104.83 million reported in the fourth quarter of 2017.
The Big Lots earnings report for the fourth quarter of the year also includes operating income of $148.42 million. The retail company’s operating income reported during the same time last year was $167.88 million.
Big Lots earnings for the fourth quarter of 2018 also has revenue coming in at $1.60 billion. This is a drop from the company’s revenue of $1.64 billion reported in the fourth quarter of the previous year. However, it was still a positive for BIG stock by matching analysts’ revenue estimate for the period.
Big Lots also includes its guidance for the full year of 2019 in its most recent earnings report. It is expecting earnings per share for the year to range from $3.55 to $3.75. Wall Street is looking for earnings per share of $3.64 for 2019.
BIG stock was up 12% as of noon Friday and is up 8% since the start of the year.
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As of this writing, William White did not hold a position in any of the aforementioned securities.