Best Buy beats by $0.08, beats on revs, Q2 comps +6.2%; guides Q3 EPS below consensus, revs in-line, sees Q3 comps +3.5-4.5%; raises FY19 EPS, rev, and comp guidance (81.66)
- Reports Q2 (Jul) earnings of $0.91 per share, excluding non-recurring items, $0.08 better than the S&P Capital IQ Consensus of $0.83; revenues rose 4.6% year/year to $9.38 bln vs the $9.25 bln S&P Capital IQ Consensus; Q2 Enterprise comps +6.2%; Q2 Domestic comps +6.0%
- Co issues guidance for Q3, sees EPS of $0.79-0.84, excluding non-recurring items, vs. $0.92 S&P Capital IQ Consensus; sees Q3 revs of $9.4-9.5 bln vs. $9.48 bln S&P Capital IQ Consensus. Co sees Q3 comps of +3.5-4.5%
- Co issues raised guidance for FY19, sees EPS of $4.95-5.10 from $4.80-5.00, excluding non-recurring items, vs. $5.02 S&P Capital IQ Consensus; sees FY19 revs of $42.3-42.7 bln from $41-42 bln vs. $42.29 bln S&P Capital IQ Consensus. "For the full year, we now expect FY19 comparable sales growth of 3.5% to 4.5% versus our original guidance of flat to growth of 2.0%...We continue to expect a non-GAAP operating income rate of approximately 4.5% for the full year, which is flat to FY18 on a 52-week basis. As we invest in the implementation of our strategy, the profitability profile of our quarters is not completely linear on a year-over-year basis."