Earnings To Watch: Best Buy Co (BBY) Reports Q4 Results Tomorrow
Electronics retailer Best Buy (NYSE:BBY) will be reporting results tomorrow before the bell. Here's what you need to know.
Last quarter Best Buy Co reported revenues of $9.76 billion, down 7.8% year on year, missing analyst expectations by 1.4%. It was a slower quarter for the company, with a miss of analysts' revenue estimates and full-year revenue guidance missing analysts' expectations.
Is Best Buy Co buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Best Buy Co's revenue to decline 1.2% year on year to $14.56 billion, improvement on the 10% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.50 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Best Buy Co's peers in the specialty retail segment, only Sally Beauty has so far reported results, with revenues decreasing 2.7% year on year, and beating analyst estimates by 0.3%. The stock traded flat on the results.
Read our full analysis of Sally Beauty's earnings results here.
There has been positive sentiment among investors in the specialty retail segment, with the stocks up on average 8.5% over the last month. Best Buy Co is up 7.9% during the same time, and is heading into the earnings with analyst price target of $78.1, compared to share price of $79.1.
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