Best Buy (BBY) To Report Earnings Tomorrow: Here Is What To Expect

Electronics retailer Best Buy (NYSE:BBY) will be announcing earnings results this Thursday before market open. Here’s what investors should know.

Best Buy met analysts’ revenue expectations last quarter, reporting revenues of $8.77 billion, flat year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

Is Best Buy a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Best Buy’s revenue to be flat year on year at $9.23 billion, improving from the 3.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.23 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Best Buy has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Best Buy’s peers in the specialty retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Sally Beauty posted flat year-on-year revenue, meeting analysts’ expectations, and Warby Parker reported revenues up 13.9%, topping estimates by 0.7%. Sally Beauty traded up 21.1% following the results while Warby Parker was down 3.9%.

Read our full analysis of Sally Beauty’s results here and Warby Parker’s results here.

There has been positive sentiment among investors in the specialty retail segment, with share prices up 2.4% on average over the last month. Best Buy is up 9% during the same time and is heading into earnings with an average analyst price target of $77.75 (compared to the current share price of $73.89).

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