Best Buy Co. ( (BBY) ) has released its Q1 earnings. Here is a breakdown of the information Best Buy Co. presented to its investors.
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Best Buy Co., Inc. is a leading retailer in the consumer electronics industry, known for its wide range of products and services, including computing, mobile phones, and home appliances, with a strong presence in both domestic and international markets.
In its latest earnings report for the first quarter of fiscal year 2026, Best Buy reported a slight decrease in comparable sales by 0.7% and a diluted earnings per share (EPS) of $0.95, with an adjusted diluted EPS of $1.15. The company highlighted its strategic focus on enhancing omni-channel experiences and expanding profit streams.
Key financial metrics showed a decrease in enterprise revenue to $8.767 billion from $8.847 billion in the previous year, with domestic revenue also seeing a slight decline. However, domestic online sales grew by 2.1%, indicating a positive shift towards digital channels. The company maintained its adjusted operating income rate at 3.8% and reported restructuring charges related to its Best Buy Health business.
Internationally, Best Buy faced challenges with a decrease in revenue due to foreign currency impacts, though it offset some of these with new Best Buy Express locations in Canada. The gross profit rate for the international segment declined, primarily due to lower product margins and supply chain costs.
Looking ahead, Best Buy’s management remains focused on strategic priorities and expects annual comparable sales growth to range from a 1% decrease to a 1% increase. The company plans to continue adapting to market conditions while maintaining operational efficiency and strategic investments.