Big Lots, Inc. Stock Plunges on Disappointing Q4 Sales

Big Lots, Inc. (NYSE:BIG) stock was down today on poor sales in its fourth quarter of 2017.

Big Lots, Inc. Stock Plunges on Disappointing Q4 Sales

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Big Lots, Inc. reported net sales of $1.64 billion for the fourth quarter of the year. This is an increase over its net sales of $1.58 billion that was reported in the same period of the year prior. However, it was still bad news for BIG stock by coming in below Wall Street’s estimate of $1.66 billion for the period.

Despite its poor net sales for the quarter, Big Lots, Inc.’s earnings per share of $2.57 wasn’t a blow to BIG stock. It’s up from the company’s earnings per share of $2.26 from the fourth quarter of 2016. It also beats out analysts’ earnings per share estimate of $2.43 for the quarter.

Accompanying Big Lots, Inc.’s earnings per share for the quarter is net income of $104.83 million. The retailer reported net income of $90.08 million during the fourth quarter of the previous year.

Big Lots, Inc. also reported operating profit of $167.88 million for the fourth quarter of 2017. This is better than its operating profit of $144.52 million that was reported in the same period of the year prior.

Big Lots, Inc. also released its outlook for 2018 in its most recent earnings report. This includes earnings per share for the year ranging from $4.75 to $4.95. Wall Street is expecting earnings per share for the year to be $4.94.

For the first quarter of the year, Big Lots, Inc. is expecting earnings per share to come in between $1.15 and $1.22. Analysts’ earnings per share estimate for the first quarter of 2018 is sitting at $1.31.

BIG stock was down 11% as of Friday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/03/big-lots-stock-drops-on-q4-earnings/.

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