Bed Bath & Beyond (BBBY) Tops Q4 EPS by 9c, Reaffirms Outlook

April 14, 2021 7:02 AM EDT
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Price: $24.39 -2.63%

EPS Growth %: +5.3%

Financial Fact:
Net sales: 2.99B

Today's EPS Names:
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Bed Bath & Beyond (NASDAQ: BBBY) reported Q4 EPS of $0.40, $0.09 better than the analyst estimate of $0.31. Revenue for the quarter came in at $2.62 billion versus the consensus estimate of $2.63 billion.

  • 3rd Consecutive Quarter of Comparable Sales Growth
  • +4% Comp Sales growth on Total Enterprise, including digital comp growth of +86%
  • +6% Comp Sales growth on Bed Bath & Beyond banner, including digital comp growth of +99%
  • +12% Comp Sales growth in Bed Bath & Beyond's Top 5 destination categories combined
  • Consistent Execution of Transformation Strategy Drives Earnings Growth
  • 31.5% Gross Margin; Adjusted Gross Margin increases 20bps to 32.8%
  • 13% increase in Adjusted EBITDA2 to $168 million; 160bps expansion in Adjusted EBITDA Margin2 to 6.4%
  • $9 million of GAAP Net Income; Adjusted Net Income of $47 million
  • $0.08 of Reported Net Earnings per Diluted Share; excluding special items, Adjusted Net Earnings per Diluted Share2 of $0.40

Fiscal 2021 Outlook:

  • Year of Fast-Paced Transformation Expected to Enhance Strategic Position for Sustained Success
  • Reaffirming fiscal 2021 outlook for Net Sales and Adjusted EBITDA of between $8.0 - $8.2 billion and between $500 - $525 million, respectively
  • Expecting to launch at least 8 customer-inspired Owned Brands, including first quarter launches of Nestwell™, Haven™ and Simply Essential™
  • Projecting faster improvement in gross debt-to-EBITDA ratio to
  • Investing in growth and transformation with CAPEX spend of approximately $400 million
  • Strengthening capital return to shareholders by increasing 3-year share repurchase authorization program to $1 billion from $825 million; increasing fiscal 2021 share repurchases to $325 million from $300 million

For earnings history and earnings-related data on Bed Bath & Beyond (BBBY) click here.

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