Best Buy Co Inc (NYSE: BBY) is trading up in premarket on Thursday after reporting better-than-expected financial results for the fourth quarter.Best Buy’s guidance for fiscal 2025Copy link to sectionShareholders are cheering also because the management issued good enough guidance for the future. Best Buy now forecasts its revenue to fall between $41.3 billion and $42.6 billion in fiscal 2025. Analysts, in comparison, were at $42.3 billion. Corie Barry – the chief executive of Best Buy Co Inc said in a pre ...

Best Buy surpassed Wall Street's revenue and earnings expectations for the holiday quarter on Thursday, even as the retailer navigated through a period of tepid consumer electronics demand and guided to a softer year ahead. For this fiscal year, Best Buy anticipates revenue will range from $41.3 billion to $42.6 billion. That would mark a drop from the most recently ended fiscal year, when full-year revenue totaled $43.45 billion. It said comparable sales will range from flat to a 3% decline.In a news relea ...

Best Buy logo is seen near the store in Montreal, Canada on June 13, 2023. (Photo by Jakub ... [+] Porzycki/NurPhoto via Getty Images)NurPhoto via Getty ImagesNote: Best Buy’s BBY FY’24 ended Jan 2024Best Buy (NYSE: BBY), a specialty retailer of consumer electronics, is scheduled to report its fiscal fourth-quarter results on Thursday, February 29. We expect the retailer’s stock to decrease post-fiscal Q4 with revenues and earnings missing estimates slightly. Several big factors hurt the consumer electronic ...

Financial Performance - Comparable sales declined by 4.8% in Q4 FY24, with domestic comparable sales down 5.1% and international comparable sales down 1.4%[2] - Total revenue for Q4 FY24 was $14.646 billion, a decrease from $14.735 billion in Q4 FY23, with domestic revenue at $13.410 billion and international revenue at $1.236 billion[2] - Revenue for the three months ended February 3, 2024, was $14,646 million, a decrease of 0.6% compared to $14,735 million for the same period in 2023[25] - Net earnings for the twelve months ended February 3, 2024, were $1,241 million, down from $1,419 million in the previous year[25] - Operating income for the twelve months ended February 3, 2024, was $1,574 million, down from $1,795 million in the previous year[25] - Consolidated operating income for Q4 2024 was $561 million, representing 3.8% of revenue, compared to $597 million and 4.1% in Q4 2023[35] Earnings Per Share - GAAP diluted EPS for Q4 FY24 was $2.12, while non-GAAP diluted EPS was $2.72, compared to $2.23 and $2.61 in Q4 FY23 respectively[2] - Non-GAAP diluted EPS for Q4 2024 was $2.72, an increase from $2.61 in Q4 2023[35] - The company expects FY25 non-GAAP diluted EPS to be in the range of $5.75 to $6.20, with a projected revenue of $41.3 billion to $42.6 billion[4][5] Profitability Metrics - Domestic gross profit rate improved to 20.4% in Q4 FY24 from 19.8% in Q4 FY23, driven by better performance from membership offerings[8] - Gross profit margin improved to 20.5% for the three months ended February 3, 2024, compared to 20.0% for the same period in 2023[25] - Non-GAAP operating income for the twelve months ended February 3, 2024, was $1,788 million, representing 4.1% of revenue[36] - Return on Assets (ROA) for the twelve months ended February 3, 2024, was 7.8%, down from 8.6% in the prior year[40] - Non-GAAP Return on Investment (ROI) for the twelve months ended February 3, 2024, was 23.9%, compared to 25.0% in the previous year[40] Expenses and Charges - The company incurred $169 million in restructuring charges in Q4 FY24, primarily related to employee termination benefits[13] - The company reported a restructuring charge of $169 million in Q4 2024, compared to $86 million in Q4 2023[35] - Total SG&A expenses for the twelve months ended February 3, 2024, were $7,876 million, with a percentage of revenue at 18.1%[36] Cash Flow and Assets - Cash provided by operating activities for the twelve months ended February 3, 2024, was $1,470 million, compared to $1,824 million for the same period in 2023[29] - Total current assets decreased to $7,897 million as of February 3, 2024, from $8,802 million as of January 28, 2023[27] - Total liabilities decreased to $11,914 million as of February 3, 2024, from $12,908 million as of January 28, 2023[27] - The company repurchased $340 million of common stock during the twelve months ended February 3, 2024, compared to $1,014 million in the previous year[29] Future Outlook - For Q1 FY25, comparable sales are expected to decline by approximately 5%, with a non-GAAP operating income rate of about 3.4%[5] - The company plans to expand its gross profit rate by approximately 20 to 30 basis points in FY25, despite expected pressures from credit card profit sharing[5] Segment Performance - Domestic segment revenue for computing and mobile phones increased to 42% in Q4 2024, compared to 41% in Q4 2023, with comparable sales down by 4.2%[33] - International segment revenue for entertainment rose to 11% in Q4 2024, up from 9% in Q4 2023, with comparable sales increasing by 16.1%[33] Taxation - The effective tax rate increased to 21.2% for the three months ended February 3, 2024, from 19.3% in the same period of 2023[25] - The effective tax rate for the twelve months ended February 3, 2024, was 23.5%[36]

Investors are always looking for stocks that are poised to beat at earnings season and Best Buy Co., Inc. (BBY) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Best Buy is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good in ...

Best Buy Co., Inc. (BBY) is likely to register year-over-year declines in the top and bottom lines when it reports its fourth-quarter fiscal 2024 results on Feb 29, before the opening bell.The Zacks Consensus Estimate for revenues is pegged at $14,517 million, indicating a 1.5% decrease from the year-ago quarter’s reported figure. The consensus estimate for quarterly earnings has been unchanged at $2.51 in the past 30 days, suggesting a 3.8% plunge from the year-ago quarter’s reported figure.BBY delivered a ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional va ...

The market expects Best Buy (BBY) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended January 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on F ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Best Buy (BBY) . This company, which is in the Zacks Retail - Consumer Electronics industry, shows potential for another earnings beat.When looking at the last two reports, this consumer electronics retailer has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 11.75%, on average, i ...

Best Buy (BBY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since a changing ...