Earnings Preview : Best Buy Co., Inc (NYSE:BBY) Q1 2010
Monday, June 07, 2021 2:22 PM

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(By David) Best Buy Co., Inc (NYSE:BBY) is schedule to release its first quarter 2010 earnings on Tuesday June 15th 2010.  BBY is one of the best-of-class U.S. consumer electronics retailers, based on its digital product focus, knowledgeable sales staff, and effective marketing campaigns. BBY's focus on advanced TVs, notebook computers, video gaming devices and mobile phones will support solid revenue growth near term.  BBY's recent decision to curb capital spending and strictly manage SG&A expenses in the current challenging macroeconomic environment make the company a favorable investment.  The company should continued market share gains as BBY's customer-centric model should enable the company to continue to differentiate itself in a competitive marketplace.

For the 4th quarter of 2010, Best Buy reported earnings of $1.82 per share compare to an estimate of $1.79 per share.  Total revenue was reported at 16.553 billion dollars, and gross profit was 3.977 billion dollars.  Net income was reported as 779 million dollars.

For the 1st quarter of 2011, the average earnings per share estimate is $.50 per share. The high estimate is for BBY to earn $.59 per share and the low estimate is $.40 per share.  Full year 2011 estimates are $3.53 per share with a high estimate of $3.69 per share and a low estimate of $3.00 per share.  Revenue estimates for BBY average 3.93 billion dollars for the first quarter, with a high estimate of 11.32 billion dollars and a low estimate of 10.70 billion dollars.  Full year 2011 revenue estimate average 52.65 billion dollars, with a high estimate of 53.58 billion dollars and a low estimate of 51.26 billion dollars.  During the past 90 days estimates on earnings have shifted upward from .49$ per share to $.50 per share.  Growth to be driven by the opening of approximately 50-55 net new Best Buy stores worldwide, 75-100 Best Buy Mobile standalone stores and 10-15 Five Star stores in China.

BBY is trading near $40 per share, which is close to the middle of the 52-week trading range of $31.25 - $48.83.  Last quarter's earnings per share growth rate was 13% compare to a 3 year EPS growth rate of 1%.  BBY had a increase in sales in the past quarter of approximately 12% compare to a 3-year EPS sales growth rate of 11%.  Best Buy has a PE ratio of 13, 17% debt and a market cap of 17.03 billion dollars.  The company has a dividend yield of 1.4% and a profit market of 4.5% and an annual return on equity of 24.5%.

 

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