Big Lots (BIG) Tops Q2 EPS by 5c, Beats on Revenues; Boosts FY EPS Guidance

(Updated - August 25, 2017 6:07 AM EDT)

Big Lots (NYSE: BIG) reported Q2 EPS of $0.67, $0.05 better than the analyst estimate of $0.62. Revenue for the quarter came in at $1.22 billion versus the consensus estimate of $1.21 billion.

FISCAL Q3 2017 GUIDANCE

• Provides initial Q3 guidance for income of $0.01 to $0.05 per diluted share, compared to adjusted income of $0.04 per diluted share (non-GAAP) for the same period last year
• Provides initial Q3 guidance for comparable store sales increase in the low single digits

For the third quarter of fiscal 2017, we estimate income will be in the range of $0.01 to $0.05 per diluted share, compared to adjusted income of $0.04 per diluted share (non-GAAP) for the third quarter of fiscal 2016. This guidance is based on a comparable store sales increase in the low single digit range.

FISCAL Q4 2017 GUIDANCE

• Provides initial Q4 guidance for income of $2.30 to $2.38 per diluted share, compared to adjusted income of $2.26 per diluted share (non-GAAP) for the same period last year
• Provides initial Q4 guidance for comparable store sales in the range of flat to +2%

For the fourth quarter of fiscal 2017, we estimate income will be in the range of $2.30 to $2.38 per diluted share, compared to adjusted income of $2.26 per diluted share (non-GAAP) for the fourth quarter of fiscal 2016. This guidance is based on comparable store sales in the range of flat to +2%.

FISCAL 2017 GUIDANCE

• Increases guidance for fiscal 2017 income to be in the range of $4.15 to $4.25 per diluted share, representing a 14% to 17% increase compared to fiscal 2016 adjusted income of $3.64 per diluted share (non-GAAP)
• Affirms guidance for fiscal 2017 cash flow of $180 to $190 million

GUIDANCE:

Big Lots sees FY2017 EPS of $4.15-$4.25, versus the consensus of $4.20.

SECOND QUARTER HIGHLIGHTS

• Record income of $0.67 per diluted share, a 29% increase compared to last year\'s adjusted income of $0.52 per diluted share (non-GAAP)
• Comparable store sales increase of 1.8%

For earnings history and earnings-related data on Big Lots (BIG) click here.

You May Also Be Interested In

• Diana Shipping withdraws bid to acquire Genco Shipping
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c