Big Lots, Inc. (NYSE:BIG) stock was down on Friday after the company released its earnings report for the second quarter of 2016.
Big Lots reported earnings per share of 52 cents for the second quarter of 2016. This is an increase over the earnings per share of 41 cents that it reported during the same time last year. It also beat out Wall Street’s earnings per share estimate of 46 cents for the quarter.
BIG’s revenue for the second quarter of 2016 was $1.20 billion. This is slightly below the $1.21 billion in revenue that the company reported during the second quarter of 2015. It also didn’t match up with the $1.22 billion in revenue that analysts were expecting in the second quarter of the year.
The Columbus, Ohio-based retailer reported adjusted income from continuing operations of $23.4 million for the second quarter of the year. This is a jump from the $21.1 million in adjusted income from continuing operations that the company reported in the second quarter of 2015.
Big Lots said that it expects to see earnings per share for the third quarter of 2015 range between -1 cents and 4 cents. Analysts are expecting the company to post losses of 1 cent per share for the third quarter of 2016.
Big Lots’s guidance also included expectations for the fourth quarter of the year. It expects earnings per share ranging from $2.18 to $2.23 for that time. Full year 2015 guidance has earnings per share falling between $3.45 to $3.55. Wall Street is looking for earnings per share of $3.47 for the year.
BIG stock was down 4% as of Friday morning.
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