Best Buy Co Inc
- Best Buy increased 4.8% to $83.46 after the electronics retailer reported a smaller-than-expected decline in sales.
Revenue in the fiscal fourth quarter ending on February 3rd declined to $14.65 billion from $14.73 billion, net income fell to $460 million from $495 million, and diluted earnings per share dropped to $2.12 from $2.23 a year ago.
In the quarter, the company returned a total of $268 million to shareholders through dividends of $198 million and share repurchases of $70 million.
For the full year, the company returned a total of $1.1 billion to shareholders through dividends of $801 million and share repurchases of $340 million.
The company announced its board of directors approved a 2% increase in the regular quarterly dividend to $0.94 per share payable on April 11 to shareholders of record on March 21.
The retailer guided fiscal 2025 earnings per share in the range of $5.75 to $6.20 and anticipated revenue between $41.3 billion and $42.6 billion.
For the fiscal first quarter, Best Buy expects comparable sales to decline by approximately 5%, with a non-GAAP operating income rate of around 3.4%, matching the rate in the first quarter of fiscal year 2024.
Feb 29, 2024 - Best Buy Company declined 5.2% to $64.60 after the retailer lowered its annual and quarterly sales outlook.
Revenue in the third quarter declined to $9.7 billion from $10.6 billion, net income fell to $263 million from $277 million, and diluted earnings per share declined to $1.21 from $1.22 a year ago.
Domestic comparable sales declined 7.3% after falling 10.5% in the quarter a year ago, and the company said comparable sales tend to fall between 3% and 7%.
However, the retailer said non-GAAP operating costs in the quarter are likely to rise between 4.7% and 5.0%, matching the increase of 4.8% in the quarter a year ago.
Best Buy estimated fiscal year 2024 revenue for 53 weeks to range between $43.1 billion and $43.7 billion, lower than the previous estimate between $43.8 billion and $44.5 billion.
Comparable sales in the fiscal year are expected to fall between 6.0% and 7.5%, compared to the previous estimate of a decrease between 4.5% and 6.0%.
Nov 21, 2023 - Best Buy Co Inc fell 5.6% to $78.28 after the electronics retailer reported fiscal second quarter results ahead of market expectations.
Revenue in the second quarter declined to $9.6 billion from $10.3 billion and net income dropped to $274 million from $306 million and diluted earnings per share fell to $1.25 from $1.32 a year ago.
The company also tightened its upper end of its full-year revenue outlook.
The company estimated full-year revenue between $43.8 billion to $44.5 billion compared to its previous estimate between $43.8 billion and $45.2 billion.
The electronics retailer forecasted comparable sales to decline between 4.5% and 6%, which compares to prior guidance of a decline of 3% to 6%.
Aug 29, 2023 - Best Buy Company Inc jumped 1.9% to $70.49 after the electronics retailer reported slightly better-than-expected adjusted earnings in its latest quarter ending in April.
Revenue in the fiscal 2024 first quarter declined to $9.5 billion from $10.6 billion, driven by 11% fall in domestic revenue to $8.8 billion on 10.4% fall in comparable sales.
Net income declined to $241 million from $341 million and diluted earnings per share fell to $1.11 from $1.49 a year ago.
In the fiscal first quarter, the company returned a total of $281 million to shareholders through dividends of $202 million and share repurchases of $79 million.
The electronics retailer reiterated its fiscal 2024 sales outlook between $43.8 billion and $45.2 billion and comparable sales to decline between 3% and 6%.
May 25, 2023 - Best Buy Co, Inc said revenue in the fourth quarter decreased to $14.7 billion from $16.3 billion and net income declined $495 million from $626 million and diluted earnings per share dropped to $2.23 from $2.62 a year ago.
Revenue in the full-year 2022 declined to $46.3 billion from $51.8 billion and net income fell to $1.4 billion from $2.5 billion and diluted earnings per share dropped to $6.29 from $9.84 a year ago.
Domestic comparable sales in the fourth quarter declined 9.6% on top of 2.1% and domestic online sales fell 13.0% on top of 11.2% from a year ago. Domestic comparable sales in the fiscal year 2022 declined 9.9% from 10.4% increase and domestic online sales fell 13.5% on top of 12.0% fall in the previous year.
The electronics retailer estimated revenue in the fiscal 2024 in the range between $43.8 billion from $45.2 billion and comparable sales to decline between 3.0% and 6.0%.
Mar 3, 2023
| Year | May | Aug | Nov | Feb | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 2.23 | 1.11 | 1.25 | 1.21 | - | |
| 2022 | 2.62 | 1.49 | 1.35 | 1.22 | 6.29 | |
| 2021 | 3.1 | 2.32 | 2.9 | 2 | 9.84 | |
| 2020 | 2.78 | 0.61 | 1.65 | 1.48 | 6.84 | |
| 2019 | 2.63 | 0.98 | 0.89 | 1.1 | 5.75 | |
| 2018 | 1.21 | 0.72 | 0.86 | 0.99 | 5.2 | |
| 2017 | 1.95 | 0.60 | 0.69 | 0.78 | 4.02 | |
| 2016 | 1.53 | 0.44 | 0.57 | 0.62 | 3.16 | |
| 2015 | 1.48 | 0.37 | 0.49 | 0.41 | 2.75 | |
| 2014 | 1.31 | 0.42 | 0.30 | 0.84 | 1.53 | |
| 2013 | -0.24 | 0.77 | 0.16 | -1.21 | -1.3 | |
| 2012 | 0.00 | 0.04 | -0.03 | -5.17 | -3.27 | |
| 2011 | 1.58 | 0.35 | 0.47 | 0.42 | 3.08 | |
| 2010 | 1.84 | 0.36 | 0.60 | 0.54 | 3.1 | |
| 2009 | 1.35 | 0.36 | 0.37 | 0.53 | 2.39 | |
| 2008 | 1.65 | 0.43 | 0.48 | 0.13 | 3.12 | |
| 2007 | 1.54 | 0.39 | 0.55 | 0.53 | 2.79 | |
| 2006 | 1.28 | 0.47 | 0.47 | 0.31 | 2.27 | |
| 2005 | 1.13 | 0.34 | 0.37 | 0.28 | 1.96 |