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Bed Bath & Beyond Earnings: BBBY Stock Gives Back 1% on Mixed Q2

Bed Bath & Beyond (NASDAQ:BBBY) earnings for the retailer’s fiscal second quarter of 2019 has BBBY stock down in after-hours trading Wednesday. This comes from adjusted diluted earnings per share of 34 cents on revenue of $2.72 billion. These are mixed results compared to Wall Street’s EPS and revenue estimates of 27 cents and $2.75 billion.

Bed Bath & Beyond Earnings: BBBY Stock Gives Back 1% on Mixed Q2

Source: Jonathan Weiss / Shutterstock.com

Now let’s take a closer look at the most recent Bed Bath & Beyond earnings report.

  • EPS reported during the quarter was down 10.53% from 38 cents in the fiscal second quarter of 2018.
  • Revenue reported by BBBY saw a 7.50% drop from $2.94 billion during the same time last year.
  • Bed Bath & Beyond earnings also see it go from an operating profit in fiscal Q2 2018 to an operating loss in fiscal Q2 2019.
  • The same also holds true for the company’s net income, which dropped to a net loss for the current quarter.

The Bed Bath & Beyond earnings report also includes an update for fiscal 2019. The company is now expecting earnings per share between $2.08 and $2.13 on revenue around $11.40 billion. For comparison, Wall Street is looking for earnings per share and revenue of $1.86 and $11.36 billion for fiscal 2019.

Bed Bath & Beyond got some positive news earlier this week in the form of an upgrade for BBBY stock. This had Wedbush analyst Seth Basham bumping the stock up from a “Neutral” rating to a new “Outperform” rating. The upgrade also includes a price target increase from $14 to $16 per share.

BBBY stock was up 1.90% after hours Thursday. However, the stock is down 13.86% since the start of the year.

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/2019/10/bed-bath-beyond-earnings-bump-bbby-stock-down/.

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