Big Lots (NYSE: BIG) reported Q3 EPS of $0.06, $0.02 better than the analyst estimate of $0.04. Revenue for the quarter came in at $1.11 billion versus the consensus estimate of $1.12 billion.

THIRD QUARTER HIGHLIGHTS

• Adjusted income of $0.06 per diluted share (non-GAAP), compared to last year\'s adjusted income of $0.04 per diluted share (non-GAAP)
• Comparable store sales increase of 1.0%

FISCAL Q4 2017 GUIDANCE

Increases Q4 guidance for income of $2.35 to $2.40 per diluted share, compared to adjusted income of $2.26 per diluted share (non-GAAP) for the same period last year
Affirms 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 $2.35 to $2.40 per diluted share, compared to our prior guidance of $2.30 to $2.38 per diluted share. This compares 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 adjusted income to be in the range of $4.23 to $4.28 per diluted share (non-GAAP), representing a 16% to 18% increase compared to fiscal 2016 adjusted income of $3.64 per diluted share (non-GAAP)
Estimates fiscal 2017 cash flow of approximately $180 million

Based on operating results for the first three quarters and our expectations for the fourth quarter of fiscal 2017 noted above, we now estimate fiscal 2017 adjusted income to be in the range of $4.23 to $4.28 per diluted share (non-GAAP), compared to our prior guidance of $4.15 to $4.25 per diluted share. This compares to adjusted income of $3.64 per diluted share (non-GAAP) for fiscal 2016. This annual guidance is based on a comparable store sales increase of approximately 1% and total sales up approximately 2% to last year as the comp and the 53rd week in fiscal 2017 are expected to be partially offset by a lower overall store count.

GUIDANCE:

Big Lots sees FY2017 EPS of $4.23-$4.28.

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