Bed Bath & Beyond Reports Higher Q4 Profit; Provides Light Q1 Earnings Guidance

Retailer Bed Bath & Beyond

released its fiscal fourth-quarter earnings results on Wednesday after the closing bell. The company reported earnings per share which were in-line with analysts' consensus estimates and sales which came in slightly ahead of Wall Street expectations. In after hours trading, the stock had climbed roughly 2 percent in the immediate wake of the results to $66.39. The New-Jersey based company reported Q4 net earnings of $373.9 million or $1.68 per share, compared to $351.0 million or $1.48 per share, in last year's fourth-quarter. This was exactly in-line with Wall Street consensus EPS estimates of $1.68. Net sales for the period surged 24.5 percent to $3.40 billion from $2.73 billion last year. This narrowly exceeded Street consensus revenue expectations of $3.39 billion. Looking ahead to Q1, Bed Bath & Beyond said that it anticipates earnings per share between $0.88 and $0.94. For the full-year, the company is modeling earnings growth in the mid single to low double digit percentage range. Currently, analysts have consensus EPS estimates of $0.95 for the first-quarter and $5.03 for the fiscal year for Bed Bath & Beyond.