The Big Lots earnings report for the third quarter of 2018 is out and the results are hammering BIG stock.
Big Lots’ (NYSE:BIG) earnings report for the third quarter of the year includes losses per share of 16 cents. This is a drop from the company’s earnings per share of 6 cents from the same time last year. It was also a blow to BIG stock by coming in well below Wall Street’s flat earnings per share estimate for the quarter.
Net loss reported in the Big Lots earnings report for the third quarter of 2018 came in at $6.56 million. This is down from the company’s net income of $4.37 million reported in the third quarter of the previous year.
During the third quarter of the year, Big Lots reported an operating loss of $9.56 million. The retail company reported operating income of $5.80 million in the same period of the year prior.
The Big Lots earnings report for the third quarter of 2018 also includes revenue of $1.15 billion. This is an increase over the company’s revenue of $1.11 billion reported in the third quarter of 2017. It also beat out analysts’ revenue estimate of $1.14 billion for the period, but was unable to save BIG stock from falling today.
The most recent Big Lots earnings report also includes its outlook for the full year of 2018. Big Lots says that it is expecting earnings per share for the year to range from $3.55 to $3.75. This is also bad news for BIG stock as Wall Street is looking for the company to report earnings per share of $4.46 in 2018.
BIG stock was down 23% as of noon Friday and is down 27% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.