Big Lots (BIG) reported earnings on Fri 3 March 17 (b/o)

• #97 on Fri 3/3

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** charts after earnings **

  

Big Lots beats by $0.04, reports revs in-line; guides Q1 EPS above consensus; guides FY18 EPS in-line; Q4 comps +0.3%; guides FY18 comps +1-2%; approves $150 mln share repurchase; raises quarterly dividend 19% :

• Reports Q4 (Jan) earnings of $2.26 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $2.22; revenues fell 0.3% year/year to $1.58 bln vs the $1.59 bln Capital IQ Consensus. Comparable store sales increase of 0.3%, the twelfth consecutive quarter of flat or positive results 
• Co issues upside guidance for Q1, sees EPS of $0.95-1.05, excluding non-recurring items, vs. $0.91 Capital IQ Consensus Estimate.
• Co issues in-line guidance for FY18, sees EPS of $3.95-4.10, excluding non-recurring items, vs. $4.00 Capital IQ Consensus Estimate. FY18 Guidance Details: Forecasting comparable store sales to increase in the 1% to 2% range. Forecasting cash flow of approximately $180 to $190 million.
• On February 28, 2017, our Board of Directors approved a share repurchase program providing for the repurchase of up to $150 million of our common shares. The $150 million authorization is expected to be utilized to repurchase shares in the open market and/or in privately negotiated transactions at our discretion, subject to market conditions and other factors. BIG raises quarterly dividend by 19% to $0.25 per share.