Best Buy beats Q3 adjusted EPS estimates, raises FY sales and profit forecast
Overview
Best Buy's Q3 FY26 revenue slightly beats analysts' expectations, driven by computing, gaming and mobile sales
Adjusted EPS for Q3 FY26 beats analysts' estimates, reflecting operational performance
Company raises FY26 adjusted EPS guidance to $6.25-$6.35
Outlook
Best Buy raises FY26 revenue forecast to $41.65 bln-$41.95 bln from $41.1 bln-$41.9 bln
Best Buy expects Q4 comparable sales growth between -1.0% and 1.0%
Best Buy raises FY26 adjusted diluted EPS guidance to $6.25-$6.35 from $6.15-6.30
Result Drivers
COMPUTING AND MOBILE SALES - Strong sales in computing, gaming, and mobile phones drove comparable sales growth of 2.7%
BEST BUY MARKETPLACE - Launch of Best Buy Marketplace contributed to sales growth
INTERNATIONAL GROWTH - Favorable supply chain costs helped boost its international gross profit rate to 22.8% from 22.5%
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $9.67 bln | $9.59 bln (19 Analysts) |
Q3 Adjusted EPS | Beat | $1.40 | $1.31 (21 Analysts) |
Q3 EPS |
| $0.66 |
|
Q3 Net Income |
| $140 mln |
|
Q3 Comparable Sales Growth |
| 2.70% |
|
Q3 Gross Profit |
| $2.25 bln |
|
Q3 Operating income |
| $198 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 18 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the computer & electronics retailers peer group is "buy."
Wall Street's median 12-month price target for Best Buy Co Inc is $80.00, about 5.5% above its November 24 closing price of $75.62
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nBw7bwFsfa
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