-=Best Buy (BBY) reported earnings on Tue 26 Nov 2019 (b/o)

Best Buy beats by $0.10, reports revs in-line; guides Q4 EPS in-line, revs in-line; Q3 enterprise comps +1.7%

Reports Q3 (Oct) earnings of $1.13 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $1.03; revenues rose 2.1% year/year to $9.76 bln vs the $9.71 bln S&P Capital IQ Consensus; Q3 enterprise comps +1.7% vs +4.3% last year; Q3 domestic comps +2.0% vs +4.3% last year.

Domestic gross profit rate was 24.3% versus 24.4% last year. The gross profit rate decrease of approximately 10 basis points was primarily driven by mix into lower-margin products, partially offset by the impact of GreatCall's higher gross profit rate.

Co issues in-line guidance for Q4, sees EPS of $2.65-2.75, excluding non-recurring items, vs. $2.66 S&P Capital IQ Consensus; sees Q4 revs of $14.75-15.15 bln vs. $14.99 bln S&P Capital IQ Consensus; co sees Q4 enterprise comps of +0.5-3.0%.