29.05.2020 12:21:23
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Big Lots Issues Q2 Outlook - Quick Facts
(RTTNews) - Big Lots, Inc. (BIG) projected second quarter earnings per share to be in the range of $0.65 to $0.80. The outlook incorporates anticipated pre-tax expenses related to COVID-19 of approximately $18 million. The company noted that, for the second quarter to date, comparable sales are up strongly, reflecting a continuation of the acceleration in business that began in mid-April. The company expects comp trends to moderate over the balance of the quarter.
First quarter income per share was $1.26 compared to adjusted net income per share of $0.92, previous year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.32, for the quarter. Analysts' estimates typically exclude special items.
First quarter net sales were $1.44 billion, an 11.1% increase from last year, with the growth resulting from a 10.3% increase in comparable sales and sales growth from new and relocated non-comp stores. Analysts expected revenue of $1.31 billion for the quarter.
The company ended the first quarter with $312 million of cash and cash equivalents and $437 million of long-term debt.
On May 28, 2020, the Board declared a quarterly cash dividend of $0.30 per common share. This dividend will be payable on June 26, 2020, to shareholders of record as of the close of business on June 12, 2020.
Shares of Big Lots were up 4% in pre-market trade on Friday.
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Big Lots Inc. | 0,12 | -1,42% |