Barnes & Noble Education (NYSE: BNED) reported Q2 EPS of $1.03, $0.12 better than the analyst estimate of $0.91. Revenue for the quarter came in at $886.9 million versus the consensus estimate of $868.17 million.

Outlook

For fiscal year 2018, the Company expects sales at BNC to be relatively flat, while BNC comparable store sales are projected to decline in the low-to mid-single digit percentage point range year over year. In addition, the Company expects consolidated sales to be in the range of $2.25 billion to $2.35 billion before intercompany eliminations. The Company expects BNED’s consolidated Adjusted EBITDA to be in a range of $105 million to $120 million. Capital expenditures are expected to be approximately $50 million, an increase from fiscal 2017 due to new store growth at BNC.

GUIDANCE:

Barnes & Noble Education sees FY2018 revenue of $2.25-2.35 million, versus the consensus of $2.18 million.

Financial highlights for the second quarter 2018 and fiscal year to date 2018:

• Consolidated sales of $886.9 million increased 15.1%, as compared to the prior year period; year to date consolidated sales of $1,242.6 million increased 23.0% as compared to the prior year period.
• Consolidated second quarter GAAP net income of $48.4 million, as compared to $29.3 million in the prior year period; year to date GAAP net income of $13.6 million, as compared to $1.4 million in the prior year period.
• Consolidated second quarter non-GAAP Adjusted EBITDA of $102.4 million, an increase of $32.0 million, as compared to the prior year period; year to date non-GAAP Adjusted EBITDA of $70.0 million, an increase of $36.1 million, as compared to the prior year period.
• Consolidated second quarter non-GAAP Adjusted Earnings of $49.9 million, as compared to $29.7 million in the prior year period; year to date non-GAAP Adjusted Earnings of $20.1 million, as compared to $3.8 million in the prior year period.

For earnings history and earnings-related data on Barnes & Noble Education (BNED) click here.