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