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.

You May Also Be Interested In

• RH (RH) Tops Q1 EPS by 12c
• United Natural Foods (UNFI) Reports In-Line Q3 EPS ; Offers Outlook
• Lennar Corp. (LEN) Misses Q2 EPS by 1c