Best Buy (BBY) Reports In-Line, Offers FY Guidance

(Updated - March 3, 2022 7:07 AM EST)

(Update to the consensus figure)

Best Buy (NYSE: BBY) reported Q4 EPS of $2.73, in-line the analyst estimate of $2.73. Revenue for the quarter came in at $16.37 billion versus the consensus estimate of $16.59 billion.

GUIDANCE:

Best Buy sees 2023 EPS of $8.85-$9.15, versus the consensus of $9.16. Best Buy sees 2023 revenue of $49.3-50.8 billion, versus the consensus of $51.05 billion.

• Revenue of $49.3 billion to $50.8 billion
• Comparable sales decline of 1.0% to 4.0%
• Enterprise non-GAAP operating income rate2 of approximately 5.4%
• Non-GAAP effective income tax rate2 of approximately 24.5%
• Share repurchases of approximately $1.5 billion
• Non-GAAP diluted EPS2 of $8.85 to $9.15

FY25:

• Enterprise revenue of $53.5 billion to $56.5 billion
• Enterprise non-GAAP operating income rate2 of 6.3% to 6.8%
• Enterprise non-GAAP operating income2 of $3.4 billion to $3.8 billion

For earnings history and earnings-related data on Best Buy (BBY) click here.

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