Big Lots (BIG) Misses Q4 EPS by 13c, Q1 and FY Guidance Misses on Coronavirus

Big Lots (NYSE: BIG) reported Q4 EPS of $2.39, $0.13 worse than the analyst estimate of $2.52. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.63 billion.

GUIDANCE:

Big Lots sees FY2020 EPS of $3.20-$3.40, versus the consensus of $4.04.

• The company's guidance incorporates the anticipated first quarter sales impact of disruption to the supply chain caused by the coronavirus. Due to a lack of visibility at this point, impact of the coronavirus beyond the first quarter is not reflected in guidance.
• The company estimates fiscal 2020 net income will be in the range of $3.20 to $3.40 per diluted share, compared to adjusted net income of $3.67 per diluted share (non-GAAP) for fiscal 2019. This guidance is based on comparable sales in the range of flat to a low single digit increase with comparable sales accelerating in the second half of the year as the growth initiatives are rolled out. The company estimates capital expenditures of approximately $160 to $170 million.

Big Lots sees Q1 2020 EPS of $0.30-$0.45, versus the consensus of $0.95.

• For the first quarter of fiscal 2020, the company expects net income in the range of $0.30 to $0.45 per diluted share, compared to adjusted net income of $0.92 per diluted share (non-GAAP) in the first quarter of fiscal 2019. This guidance assumes a decrease in comparable sales in the low to mid-single digit range, which includes the estimated impact of supply chain disuruption due to the coronavirus.

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

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