Bed Bath & Beyond (BBBY) Q3 Earnings Top, Up 17% On '19 View
Zacks Investment Research | Jan 09, 2019 09:08PM ET
Bed Bath & Beyond Inc. (NASDAQ:BBBY) reported mixed third-quarter fiscal 2018 results wherein the bottom line outpaced estimates while the top line missed the mark. With this, the company’s earnings reverted to a positive trend after a miss in the previously reported quarter whereas sales lagged for the second straight time. Further, management updated sales and earnings guidance for fiscal 2018.
Following the above earnings release, shares of the company rallied 16.8% in after-market trading yesterday. Momentum in the stock can mainly be attributed to the company’s earnings per share view for fiscal 2019, which surpassed the analysts’ expectations.
Management stated that the company stays well ahead of its plan on achieving the long-term financial goals that include moderating the operating profit and net earnings per share decline in fiscal 2018 and 2019. However, the company expects to witness net earnings per share growth by fiscal 2020.
However, this Zacks Rank #4 (Sell) stock has lost 12.1% in the past three months against the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.