Categories Analysis, Retail

Best Buy Q3 2019 Earnings Preview: All eyes on Black Friday

It’s Black Friday season time and the week Best Buy posts its earnings. The consumer electronics retailer is expected to post its third-quarter earnings before the market opens on Tuesday, Nov. 20 — just 3 days before the sale kicks off.

Best Buy is expected to post quarterly earnings of $0.85 per share for the quarter, up 9%, on revenue of $9.54 billion.

It has had a good streak of beating earnings estimates. For the previously reported quarter, Best Buy beats estimates of $0.83 per share and posted earnings of $0.91 a share — a 9.64% surprise. For the previous quarter, the consensus estimate was $0.75 per share, while it actually produced $0.82 per share, a surprise of 9.33%.

Best Buy second quarter 2019 earnings

However, all eyes would be on the Black Friday sale and how it turned out, as investors usually focus on the present and not the past for Best Buy. Even as last quarter earnings were a beat, shares fell on lower-than-expected outlook.

For the third quarter of 2019, Best Buy announced that it expects enterprise revenue of $9.4 billion to $9.5 billion. Enterprise comp sales are expected to grow by 2.5% to 3.5% while adjusted diluted EPS is expected to increase 1-8% to $0.79 to $0.84. This was much below what the investors were looking for.

 

We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips.

Most Popular

CL Earnings: Key quarterly highlights from Colgate-Palmolive Company’s Q4 2022 financial results

Colgate-Palmolive Company (NYSE: CL) reported fourth quarter 2022 earnings results today. Net sales increased 5% year-over-year to $4.62 billion. Organic sales growth was 8.5%. Net income attributable to Colgate-Palmolive Company was

Key highlights from Chevron Corporation’s (CVX) Q4 2022 earnings results

Chevron Corporation (NYSE: CVX) reported fourth quarter 2022 earnings results today. Total revenues and other income were $56.4 billion compared to $48.1 billion in the year-ago period. Net income attributable

AXP Earnings: All you need to know about American Express’ Q4 2022 earnings results

American Express Company (NYSE: AXP) reported fourth quarter 2022 earnings results. Consolidated total revenues net of interest expense were $14.2 billion, up 17% from a year ago. Net income was

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top