NYSE$BBY
Best Buy Co Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Best Buy's Q4 2023 performance saw revenue in line with expectations and profitability exceeding them.
Best Buy reported Q4 FY23 results, with revenue of $14.735 billion and a GAAP diluted EPS of $2.23. The company's performance was better than expected in terms of profitability, and they remained committed to balancing near-term responses to current conditions while advancing strategic initiatives.
- Q4 sales were in line with expectations, and profitability was better than expected.
- The company remained committed to balancing near-term responses to current conditions and managing well what is in their control.
- Best Buy advanced strategic initiatives and invested in areas important for long-term performance.
- The macro and industry backdrop is expected to continue to be pressured in FY24, and adjustments will continue.
Headline financials
Revenue & EPS history
Best Buy · Revenue · Quarterly
$14.7B
Revenue by segment
Best Buy · $14.7B total across 2 segments · Q4 2023
- Domestic segment$13.5B-9.8%91.8%
- International segment$1.2B-12.2%8.2%
Forward guidance
Best Buy anticipates continued pressures from the macro environment in FY24, expecting a comparable sales decline of 3% to 6%. They plan to expand their gross profit rate and manage costs while evolving their membership program.
Tailwinds
- Gross profit rate is expected to expand approximately 40 to 70 basis points.
- Cost optimization efforts are expected to yield benefits.
- The company will evolve its membership program.
- Revenue of $43.8 billion to $45.2 billion
- Non-GAAP diluted EPS of $5.70 to $6.50
Headwinds
- Consumer electronics industry continues to feel the effects of the broader macro environment.
- Comparable sales are expected to decline 3% to 6% for the year.
- Most sales pressure is expected in the first quarter.
- Non-GAAP SG&A expense is expected to increase versus last year.
- Cost takeout initiatives and lower variable costs are offset by the addback of incentive compensation, the extra week and higher depreciation.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
+0.8%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+0.1%
Avg return
30 days after
51%
36 / 71 earnings
Positive
+20.4%
Q2 2016
Best reaction
-16.8%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +13.3% | +8.3% | +4.7% | |
| Q3 2026 | +4.4% | +4.8% | -7.8% | |
| Q2 2026 | -3.8% | -1.3% | +0.9% | |
| Q1 2026 | -7.1% | -2.3% | -4.6% | |
| Q4 2025 | -13.3% | -8.5% | -28.3% | |
| Q3 2025 | -5.2% | -3.3% | -3.9% | |
| Q2 2025 | +14.4% | +15.0% | +16.5% | |
| Q1 2025 | +18.0% | +22.2% | +17.2% | |
| Q4 2024 | -2.2% | -4.7% | +2.9% | |
| Q3 2024 | -0.1% | +2.1% | +11.3% | |
| Q2 2024 | +2.5% | +1.6% | -7.0% | |
| Q1 2024 | +7.5% | +6.1% | +14.4% | |
| Q4 2023 | +0.9% | -0.3% | -5.2% | |
| Q3 2023 | +16.3% | +14.7% | +13.6% | |
| Q2 2023 | -4.1% | -3.5% | -11.7% | |
| Q1 2023 | +10.3% | +15.7% | -1.8% | |
| Q4 2022 | +5.2% | +0.3% | -10.4% | |
| Q2 2022 | +8.7% | +4.8% | -5.3% | |
| Q1 2022 | -0.6% | -1.8% | -3.3% | |
| Q4 2021 | -11.6% | -9.6% | +5.1% | |
| Q3 2021 | -6.7% | -7.7% | -16.0% | |
| Q2 2021 | -4.3% | -5.2% | -10.7% | |
| Q1 2021 | -5.7% | -2.5% | -0.4% | |
| Q4 2020 | -7.9% | -6.9% | -24.0% | |
| Q3 2020 | +8.7% | +8.6% | +18.3% | |
| Q2 2020 | -7.8% | -8.4% | -1.1% | |
| Q1 2020 | -4.7% | -5.5% | -2.4% | |
| Q4 2019 | +14.1% | +11.2% | +17.8% | |
| Q3 2019 | -0.2% | +0.6% | -19.0% | |
| Q2 2019 | -4.9% | -2.6% | -4.2% | |
| Q1 2019 | -9.9% | -10.2% | +0.4% | |
| Q4 2018 | +0.8% | +6.0% | -3.4% | |
| Q3 2018 | -2.6% | -2.2% | +14.0% | |
| Q2 2018 | -13.3% | -12.8% | -9.0% | |
| Q1 2018 | +17.0% | +17.6% | +9.4% | |
| Q4 2017 | +1.6% | -0.5% | +11.4% | |
| Q3 2017 | +10.7% | +15.2% | +16.2% | |
| Q2 2017 | +20.4% | +20.4% | +17.3% | |
| Q1 2017 | -2.8% | -2.9% | -7.8% | |
| Q4 2016 | +3.1% | — | — | |
| Q3 2016 | -2.6% | — | — | |
| Q2 2016 | +20.4% | — | — | |
| Q1 2016 | +1.6% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | +7.0% | — | — | |
| Q2 2015 | -0.9% | — | — | |
| Q1 2015 | +6.5% | — | — | |
| Q4 2014 | -3.1% | — | — | |
| Q3 2014 | -11.1% | — | — | |
| Q2 2014 | +9.8% | — | — | |
| Q1 2014 | -4.3% | — | — | |
| Q4 2013 | +8.3% | — | — | |
| Q3 2013 | -15.9% | — | — | |
| Q2 2013 | -2.4% | — | — | |
| Q1 2013 | +2.2% | — | — | |
| Q4 2012 | -11.0% | — | — | |
| Q3 2012 | -16.8% | — | — | |
| Q2 2012 | -3.8% | — | — | |
| Q1 2012 | +5.5% | — | — | |
| Q4 2011 | +1.9% | — | — | |
| Q3 2011 | +0.6% | — | — | |
| Q2 2011 | +0.7% | — | — | |
| Q1 2010 | -0.2% | — | — | |
| Q1 2011 | -3.6% | — | — | |
| Q4 2010 | +2.6% | — | — | |
| Q4 2008 | +2.6% | — | — | |
| Q3 2010 | -2.4% | — | — | |
| Q3 2009 | -2.4% | — | — | |
| Q2 2010 | +0.9% | — | — | |
| Q2 2009 | +0.9% | — | — | |
| Q4 2009 | +0.9% | — | — |
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