Barnes & Noble Education (NYSE: BNED) reported Q3 EPS of ($0.04), $0.12 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $502.3 million versus the consensus estimate of $506.25 million.

Outlook

For fiscal year 2020, the Company expects consolidated Adjusted EBITDA to be between $80 million to $85 million. Capital expenditures are now expected to be in a range of $35 million to $45 million. The Company expects free cash flow to be between $30 million to $40 million, as compared to $39.7 million in fiscal year 2019. The Company defines free cash flow as Adjusted EBITDA less capital expenditures, cash interest and cash taxes.

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