$BBY TTN Summary of 08:00ET Earnings Call: Tariff impact in Q2 was immaterial and in line with expectations; Customer behavior continues to be resilient yet deal-focused—willing to invest in high-ticket technology innovations and sale events such as Black Friday in July. (Best
Best Buy CEO: "We delivered comparable sales growth of 1.6% in Q2, our highest growth in three years...Given the uncertainty of potential tariff impacts in H2 25... we feel it is prudent to maintain the annual guidance we provided last quarter. $BBY: -4% Pre-Market https://t.co/OCR5BYF6VP
$BBY Earnings: - Revenue: $9.4 billion - Diluted EPS of $0.87 - Adjusted Diluted EPS of $1.28 “We delivered comparable sales growth of 1.6% in the second quarter, our highest growth in three years,” said Corie Barry, Best Buy CEO. “This better-than-expected sales growth was https://t.co/lWSiBxoZpG
Best Buy reported fiscal second-quarter revenue of $9.44 billion, topping analyst expectations of about $9.24 billion, as demand for gaming and computer equipment lifted sales. Adjusted earnings per share came in at $1.28 versus the consensus $1.21, while diluted EPS stood at $0.87. Comparable sales rose 1.6%, the retailer’s strongest growth in three years, but net income fell 28% from a year earlier to $186 million as margin pressures persisted. Despite the outperformance, the consumer-electronics chain kept its full-year forecast unchanged, projecting adjusted EPS of $6.15–$6.30 on revenue of $41.1 billion to $41.9 billion and expecting comparable sales to range between a 1% decline and a 1% increase. Management said the impact of the recently introduced 145% US tariff on Chinese goods was immaterial in the quarter but warned that uncertainty over higher costs and consumer sentiment in the back half of the year justified maintaining a cautious outlook. Chief Executive Officer Corie Barry said customer demand remains “resilient yet deal-focused,” with shoppers willing to spend on high-ticket technology items and sales events. Chief Financial Officer Matt Bilunas added that sales are trending toward the upper end of the company’s guidance range, but pricing and supply-chain decisions will depend on how tariffs affect costs. The shares fell roughly 4% in pre-market trading.