Categories Earnings, Retail

Big Lots (NYSE: BIG): Q3 2019 Earnings Snapshot

— Big Lots Inc. (NYSE: BIG) reported its third-quarter 2019 adjusted loss of $0.18 per share versus a loss of $0.20 per share expected. This is within the loss guidance of $0.25-0.15.

— Net sales rose by 1.6% to $1.17 billion versus $1.16 billion expected. This was driven by sales growth in high volume new and relocated non-comp stores, as well as a slightly higher store count.

Big Lots (BIG) Q3 2019 Earnings Snapshot

— Comparable store sales declined 0.1% compared to its guidance of about flat.

— Looking ahead into the fourth quarter, the company expects adjusted earnings in the range of $2.40 to $2.55 per share compared to $2.68 per share in the same period last year. The consensus estimates stood at $2.55 per share.

— Comparable store sales are anticipated to increase slightly for the fourth quarter.

— For fiscal 2019, the company still predicts adjusted earnings of $3.70 to $3.85 per share. This is compared to the consensus estimates of $3.80 per share. The GAAP EPS is predicted to be $6.20 to $6.35 per share.

— After a year of restructuring and transition in 2019, and despite the ongoing impact of tariffs, Big Lots expects to return to EBIT and EPS growth in 2020, including a significant improvement in normalized free cash flow.

— In a separate release, the company’s board of directors declared a quarterly cash dividend of $0.30 per common share for the fourth quarter. The dividend will be paid on December 30, to shareholders of record on December 16.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

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