Best Buy (BBY) Tops Q4 EPS by 6c, Offers Outlook

February 25, 2021 7:02 AM EST

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Best Buy (NYSE: BBY) reported Q4 EPS of $3.48, $0.06 better than the analyst estimate of $3.42. Revenue for the quarter came in at $16.94 billion versus the consensus estimate of $17.15 billion.

  • Enterprise Comparable Sales Increased 12.6%
  • Domestic Comparable Online Sales Increased 89.3%

Although not providing its traditional guidance, the company is providing the following working assumptions:

FY22:

  • Enterprise comparable sales growth of (-2%) to +1%
  • Online sales of approximately 40% of total Domestic sales
  • Enterprise non-GAAP gross profit rate2 slightly below the FY21 rate of 22.4%
  • Enterprise non-GAAP SG&A2 growth rate in the low single-digits
  • Share repurchases of at least $2.0 billion
  • Capital expenditures of $750 million to $850 million

Q1 FY22:

  • Enterprise comparable sales growth of approximately 20%
  • Enterprise non-GAAP gross profit rate2 slightly below the Q1 FY21 rate of 23.0%
  • Enterprise non-GAAP SG&A2 growth of approximately 10%

For earnings history and earnings-related data on Best Buy (BBY) click here.



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