Best Buy Co Inc

Latest Results (17.12.2024):

Revenue and Sales

In the third quarter of fiscal year 2025, Best Buy Co., Inc. reported a total revenue of $9.45 billion, a decrease from $9.76 billion in the same quarter of the previous year. The company's enterprise comparable sales declined by 2.9%, with the domestic segment experiencing a 2.8% drop and the international segment seeing a 3.7% decrease. The domestic online sales also saw a slight decline of 1.0% compared to the previous year.

Earnings Per Share

Best Buy Co., Inc. reported a GAAP diluted earnings per share (EPS) of $1.26 for Q3 FY25, marking a 4% increase from the previous year's $1.21. However, the non-GAAP diluted EPS decreased by 2% to $1.26 from $1.29 in Q3 FY24. This reflects the company's ability to maintain profitability despite a decline in sales.

Domestic Segment Performance

The domestic segment of Best Buy Co., Inc. generated $8.70 billion in revenue for Q3 FY25, a 3.3% decrease from the previous year. The decline was primarily driven by lower sales in appliances, home theater, and gaming categories, although there was growth in computing, tablets, and services. The domestic gross profit rate improved to 23.6% from 22.9% last year, attributed to better performance in the services category.

International Segment Performance

For the international segment, Best Buy Co., Inc. reported a revenue of $748 million in Q3 FY25, a 1.6% decrease from the previous year. The decline was influenced by a 3.7% drop in comparable sales and adverse foreign exchange rates, partially offset by new Best Buy Express locations in Canada. The international gross profit rate increased to 22.5% from 22.1% last year, driven by growth in higher-margin services.

Shareholder Returns and Dividends

During Q3 FY25, Best Buy Co., Inc. returned $339 million to shareholders through dividends and share repurchases. The company paid $202 million in dividends and repurchased $137 million worth of shares. Best Buy announced a regular quarterly cash dividend of $0.94 per common share, payable on January 7, 2025, to shareholders of record as of December 17, 2024.