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Wed, September 30 at 4:00PM ET

Bed Bath & Beyond Earnings: BBBY Stock Soars 13% on FQ4 Beat

BBBY beat EPS and revenue estimates

Bed Bath & Beyond (NASDAQ:BBBY) earnings for the retail company’s fiscal fourth quarter of 2019 have BBBY stock soaring after-hours Wednesday. This is due to its adjusted earnings per share of 38 cents beating out Wall Street’s estimate of 20 cents. Its revenue of $3.11 billion also comes in above analysts’ estimates of $3.07 billion.

Bed Bath & Beyond Earnings: BBBY Stock Soars 13% on FQ4 Beat
Source: Jonathan Weiss / Shutterstock.com

Now, let’s take a more in-depth look at the most recent Bed Bath & Beyond earnings report.

  • Adjusted per-share earnings are 68.33% worse than the $1.20 from the same time last year.
  • Revenue comes in 6.04% lower than the $3.31 billion reported in the fiscal fourth quarter of 2018.
  • Operating loss of -$81.21 million is a 72.63% improvement year-over-year from -$296.74 million.
  • The Bed Bath & Beyond earnings report also has net loss coming in at -$65.41 million.
  • That’s a 74.23% narrower net loss than the -$253.79 million reported in the same period of the year prior.

Mark Tritton, president and CEO of Bed Bath & Beyond, said this about the BBBY stock earnings report.

“Our fourth quarter performance was consistent with the market update we provided on February 11, 2020. These results strengthen our resolve to continue to make the necessary, bold and broad-based changes needed to modernize our business, and give us confidence about our ability to improve on this quarterly performance.”

The Bed Bath & Beyond earnings report doesn’t include guidance for its fiscal first quarter of 2020. It isn’t providing one due to the novel coronavirus. However, it doesn’t note that the coronavirus will have a negative impact on its earnings for that quarter.

BBBY stock was up 13.06% after markets closed Wednesday and were down 17.32% at the close of the day.

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/2020/04/bed-bath-beyond-earnings-send-bbby-stock-higher/.

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