Big Lots (BIG) reported earnings on Fri 8 March 19 (b/o)

** charts before earnings **

 

** charts after earnings **

 

Big Lots beats by $0.38, reports revs in-line; Q4 comps +3.1%; guides Q1 EPS below consensus; guides FY20 EPS in-line; approves $50 mln share repurchase program

• Reports Q4 (Jan) earnings of $2.68 per share, $0.38 better than the S&P Capital IQ Consensus of $2.30; revenues fell 2.7% year/year to $1.6 bln vs the $1.6 bln S&P Capital IQ Consensus.
• Comparable store sales increased 3.1% for the fourth quarter of fiscal 2018, compared to our guidance of flat to an increase of 2%.
• Co issues downside guidance for Q1, sees EPS of $0.65-0.75, excluding non-recurring items, vs. $0.92 S&P Capital IQ Consensus.
• Co issues in-line guidance for FY20, sees EPS of $3.55-3.75, excluding non-recurring items, vs. $3.64 S&P Capital IQ Consensus.  FY20 Guidance: Forecasting comparable store sales to increase in the low single digit range. Forecasting cash flow (cash provided by operating activities less capital expenditures) of approximately $95 to $105 million.
• On March 6, 2019, our Board of Directors approved a share repurchase program providing for the repurchase of up to $50 million of our common shares.