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Wed, April 1 at 7:00PM ET
 
 
 
 

Big Lots Earnings: BIG Stock Goes Gangbusters on Q3 Beat

BIG beat EPS estimates by 2 cents

Big Lots (NYSE:BIG) earnings for the retail company’s third quarter of 2019 have BIG stock skyrocketing on Friday. This is due to its adjusted losses per share of -18 cents and revenue of $1.17 billion. These both beat out Wall Street’s estimates of -20 cents per share and $1.16 billion.

Big Lots Earnings: BIG Stock Goes Gangbusters on Q3 Beat
Source: Jonathan Weiss / Shutterstock.com

Here’s what else is worth mentioning from the Q3 Big lots earnings report.

  • Adjusted per-share losses are 12.50% wider than the -16 cents reported during the same time last year.
  • Revenue is 1.74% better than the $1.15 billion reported in the third quarter of 2018.
  • The Big Lots earnings report also sees it bring in operating profit instead of an operating loss like in the same period of the year prior.
  • The same also holds true when it comes to net income improving YoY from a net loss.

Bruce Thorn, President and CEO of Big Lots, says this about the BIG stock earnings.

“We are pleased to have delivered operating results in line with our guidance, while strengthening our balance sheet with the proceeds from the sale of our California distribution center. I’m also highly encouraged by the progress we are making on our transformational strategies, as part of Operation North Star, to drive profitable long-term growth and deliver value to our shareholders.”

The Big Lots earnings report also notes that the company continues to expect adjusted EPS of $3.70 to $3.85 for 2019. Wall Street is looking for the furniture seller to report earnings per share of $3.80 for the year.

BIG stock was up 29.12% as of noon Friday.

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/2019/12/big-lots-earnings-send-stock-up/.

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