HALISTER: MORE: Best Buy Drops After 1Q Forecast Misses Est.; Boosts Div.

(Bloomberg) -- Best Buy sees 1Q adj. EPS 31c-35c, est. 39c (range 31c-44c). Shrs down 3.3% pre-mkt.

Sees 1Q rev. $8.25b-$8.35b, est. $8.45b (range $8.22b- $8.71b)
Sees 1Q enterprise comps. down 1%-2%; targets “flat” domestic rev. for yr, “flattish” oper. income
- Cites continued growth in appliances, connected home, home theater, although “challenging without” strong mobile cycle, improvements in NPD-reported categories overall
Sets special div. 45c/shr or about $145m
Boosts qtr div. to 28c/shr from 23c, est. 24c
Sets new $1b buyback plan, expected to be completed over 2 years
- NOTE: BBY mkt cap $10.8b, had 342.7m shrs outstanding as of Dec. 1: Bloomberg dats
4Q adj EPS $1.53, est. $1.39 (range $1.22-$1.47); cites well-executed holiday plan, disciplined promotional strategy, better recovery on returned, clearance product, strong expense mgmt
4Q rev. $13.6b, est. $13.6b (range $13.51b-$13.81b), co. forecast $13.64b (Jan. 14)
4Q enterprise comp. sales (incl. installment billing) -1.4%, est. -1.3% (Consensus Metrix avg of 13 ests.)
4Q domestic comp. -1.7%, est. -1.4%
Call 8am, 888-437-9362 pw 4995836
NOTE: Feb. 24, PREVIEW BEST BUY 4Q: Focus on Sales and Industry Trends, Outlook
NOTE: Feb. 19, Best Buy Cut to Neutral at Goldman; Sees ‘Choppy’ Sales in 1H16

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BBY US (Best Buy Co Inc)

To de-activate this alert, click here

UUID: 7947283

Halister News