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Big Lots (BIG) to Report Q1 Earnings: What's in the Cards?
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Big Lots, Inc. (BIG - Free Report) is likely to report top- and bottom-line decreases year over year when it reports first-quarter fiscal 2022 results on May 27, before market open. The Zacks Consensus Estimate for the fiscal first quarter is currently pegged at $1.03 per share, indicating a plunge of 60.7% from the last fiscal year’s quarterly tally. The consensus mark has decreased 6.4% in the past seven days.
The consensus mark for quarterly revenues is pegged at $1,462 million, indicating a dip of 10.3% from the last fiscal year’s quarterly reported number.
This Columbus, OH-based player delivered an earnings surprise of 7.3%, on average, in the trailing four quarters.
Key Factors to Note
Big Lots is persistently facing margin challenges due to the supply-chain disruptions. In addition, other inflationary pressures and higher freight costs have been weighing on BIG’s performance for a while. These factors along with any deleverage in selling, general and administrative expenses might have hurt BIG’s performance during the to-be-reported quarter.
On its last earnings call, management anticipated earnings per share in the range of $1.10-$1.20 for first-quarter fiscal 2022, significantly down from $2.62 earned in the comparable quarter of last fiscal year. The view takes into account comparable sales growth of roughly 10% from the 2019 level, same as the low double-digit decline in comparable sales from the first-quarter fiscal 2021’s tally. Management had also anticipated a slight rise in expense dollars from the earlier fiscal year’s reading, mainly due to additional supply-chain expenses, inflationary wage impacts and new store-related costs.
Management had forecast the gross margin rate for the fiscal first quarter to decline roughly 50 basis points from the prior fiscal-year period’s reported figure, thanks to higher-than-expected freight costs and an increased shrink accrual rate.
On the flip side, Big Lots is taking initiatives steadily to maneuver the aforesaid challenges. BIG’s transformation initiative and e-commerce business appear encouraging. The transformation plan focuses on driving the top line, cost containment and enhancement of systems and infrastructure. BIG’s Broyhill and Real Living brands are performing well.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Big Lots this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Big Lots currently has a Zacks Rank #5 (Strong Sell) and an Earnings ESP of -12.52%.
Stocks With a Favorable Combination
Here are a few companies worth considering as our model shows that these have the right combination of elements to beat on earnings this season:
Kroger (KR - Free Report) has an Earnings ESP of +2.95% and a Zacks Rank #2, currently. KR is likely to register an increase in the bottom line from the last fiscal year’s quarterly reading when it reports first-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.27 per share, indicating an improvement of 6.7% from the prior fiscal year’s quarterly tally. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kroger’s top line is expected to rise from the last fiscal year’s quarterly reported figure. The Zacks Consensus Estimate for quarterly revenues is pegged at $43.2 billion, which suggests an increase of 4.7% from the figure reported in the prior fiscal year’s comparable period. KR delivered an earnings beat of 22.1%, on average, in the trailing four quarters.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +0.38% and a Zacks Rank #3. CASY is anticipated to register a top-line increase from the last fiscal year’s quarterly reading when it reports fourth-quarter fiscal 2022 results. The Zacks Consensus Estimate for CASY’s revenues is pegged at $3,442 million, indicating a rise of 44.7% from the figure reported in the prior fiscal year’s quarter.
The Zacks Consensus Estimate for Casey's General Stores’ quarterly earnings is pegged at $1.54 per share, suggesting an improvement of 37.5% from the last fiscal year’s quarterly reported number. CASY delivered an earnings beat of 21.6%, on average, in the trailing four quarters.
lululemon athletica (LULU - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank of 3. LULU is likely to register an increase in the bottom line from the last fiscal year’s quarterly reading when it reports first-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings has moved 8.5% north to $1.40 per share, suggesting 20.7% growth from the earlier fiscal year’s quarterly reported number.
lululemon athletica’s top line is expected to rise from the prior fiscal year’s quarterly reported number. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.54 billion, suggesting a rise of 25.7% from the figure reported in the prior fiscal year’s quarter. LULU delivered an earnings beat of 20.9%, on average, in the trailing four quarters.
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Big Lots (BIG) to Report Q1 Earnings: What's in the Cards?
Big Lots, Inc. (BIG - Free Report) is likely to report top- and bottom-line decreases year over year when it reports first-quarter fiscal 2022 results on May 27, before market open. The Zacks Consensus Estimate for the fiscal first quarter is currently pegged at $1.03 per share, indicating a plunge of 60.7% from the last fiscal year’s quarterly tally. The consensus mark has decreased 6.4% in the past seven days.
The consensus mark for quarterly revenues is pegged at $1,462 million, indicating a dip of 10.3% from the last fiscal year’s quarterly reported number.
This Columbus, OH-based player delivered an earnings surprise of 7.3%, on average, in the trailing four quarters.
Key Factors to Note
Big Lots is persistently facing margin challenges due to the supply-chain disruptions. In addition, other inflationary pressures and higher freight costs have been weighing on BIG’s performance for a while. These factors along with any deleverage in selling, general and administrative expenses might have hurt BIG’s performance during the to-be-reported quarter.
On its last earnings call, management anticipated earnings per share in the range of $1.10-$1.20 for first-quarter fiscal 2022, significantly down from $2.62 earned in the comparable quarter of last fiscal year. The view takes into account comparable sales growth of roughly 10% from the 2019 level, same as the low double-digit decline in comparable sales from the first-quarter fiscal 2021’s tally. Management had also anticipated a slight rise in expense dollars from the earlier fiscal year’s reading, mainly due to additional supply-chain expenses, inflationary wage impacts and new store-related costs.
Management had forecast the gross margin rate for the fiscal first quarter to decline roughly 50 basis points from the prior fiscal-year period’s reported figure, thanks to higher-than-expected freight costs and an increased shrink accrual rate.
On the flip side, Big Lots is taking initiatives steadily to maneuver the aforesaid challenges. BIG’s transformation initiative and e-commerce business appear encouraging. The transformation plan focuses on driving the top line, cost containment and enhancement of systems and infrastructure. BIG’s Broyhill and Real Living brands are performing well.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Big Lots this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Big Lots, Inc. Price and EPS Surprise
Big Lots, Inc. price-eps-surprise | Big Lots, Inc. Quote
Big Lots currently has a Zacks Rank #5 (Strong Sell) and an Earnings ESP of -12.52%.
Stocks With a Favorable Combination
Here are a few companies worth considering as our model shows that these have the right combination of elements to beat on earnings this season:
Kroger (KR - Free Report) has an Earnings ESP of +2.95% and a Zacks Rank #2, currently. KR is likely to register an increase in the bottom line from the last fiscal year’s quarterly reading when it reports first-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.27 per share, indicating an improvement of 6.7% from the prior fiscal year’s quarterly tally. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kroger’s top line is expected to rise from the last fiscal year’s quarterly reported figure. The Zacks Consensus Estimate for quarterly revenues is pegged at $43.2 billion, which suggests an increase of 4.7% from the figure reported in the prior fiscal year’s comparable period. KR delivered an earnings beat of 22.1%, on average, in the trailing four quarters.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +0.38% and a Zacks Rank #3. CASY is anticipated to register a top-line increase from the last fiscal year’s quarterly reading when it reports fourth-quarter fiscal 2022 results. The Zacks Consensus Estimate for CASY’s revenues is pegged at $3,442 million, indicating a rise of 44.7% from the figure reported in the prior fiscal year’s quarter.
The Zacks Consensus Estimate for Casey's General Stores’ quarterly earnings is pegged at $1.54 per share, suggesting an improvement of 37.5% from the last fiscal year’s quarterly reported number. CASY delivered an earnings beat of 21.6%, on average, in the trailing four quarters.
lululemon athletica (LULU - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank of 3. LULU is likely to register an increase in the bottom line from the last fiscal year’s quarterly reading when it reports first-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings has moved 8.5% north to $1.40 per share, suggesting 20.7% growth from the earlier fiscal year’s quarterly reported number.
lululemon athletica’s top line is expected to rise from the prior fiscal year’s quarterly reported number. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.54 billion, suggesting a rise of 25.7% from the figure reported in the prior fiscal year’s quarter. LULU delivered an earnings beat of 20.9%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.