Best Buy Boosts FY25 Adj. EPS Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) raised its adjusted earnings guidance for the full-year 2025, while trimming annual revenue and comparable sales outlook. Comparable sales for the second quarter declined 2.3 percent.

For fiscal 2025, the company now projects adjusted earnings in a range of $6.10 to $6.35 per share on revenues between $41.3 billion and $41.9 billion, with a comparable sales decline of 3.0 to 1.5 percent.

Previously, the company expected adjusted earnings in the range of $5.75 to $6.20 per share on revenues between $41.3 billion and $42.6 billion, with a comparable sales decline of 3.0 to 0.0 percent.

On average, 26 analysts polled by Thomson Reuters expect the company to report earnings of $6.08 per share on revenues of $41.81 billion for the year. Analysts' estimates typically exclude special items.

The company also announced its board of directors has authorized the payment of a regular quarterly cash dividend of $0.94 per common share, payable on October 10, 2024, to shareholders of record as of the close of business on September 19, 2024.

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