Big Lots earnings for the first quarter of 2019 have BIG stock on its way up Friday.
Big Lots (NYSE:BIG) starts off its earnings report for the first quarter of the year with earnings per share of 92 cents. This is down from the company’s earnings per share of 95 cents from the same time last year. However, it was a boon to BIG stock by beating out Wall Street’s earnings per share estimate of 70 cents for the quarter.
Net income reported by Big Lots for the first quarter of 2019 comes in at $15.54 million. That’s a drop from the company’s net income of $31.24 million reported in the first quarter of 2018.
The Big Lots earnings report for the first quarter of the year also includes operating income of $25.65 million. This is a decrease from the company’s operating income of $45.34 million reported in the same period of the year prior.
Big Lots earnings for the first quarter of 2019 have revenue coming in at $1.30 billion. This is an increase over the company’s revenue of $1.27 billion reported in the first quarter of the previous year. It was also good news for BIG stock by matching analysts’ revenue estimate for the period.
The most recent Big Lots earnings report also includes an update to its guidance for 2019. The company now expects earnings per share for the year to range from $3.70 to $3.85. It was previously expecting earnings per share between $3.55 and $3.75 for the year. This is a blessing for BIG stock as Wall Street is looking for earnings per share of $3.66 for the full year of 2019.
BIG stock was up 5% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.