Best Buy Reiterates FY25 Outlook; Declares Dividend - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) reiterated its adjusted earnings, revenue and comparable sales guidance for the full-year 2025. Comparable sales for the first quarter declined 6.1 percent.

For fiscal 2025, the company continues to project adjusted earnings in a 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 $6.02 per share on revenues of $42.01 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 July 11, 2024, to shareholders of record as of the close of business on June 20, 2024.

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