Stock Earnings in Review: Big Lots Inc. (NYSE:BIG)

Big Lots Inc. (NYSE:BIG) reported earnings for the three months ended April 2016 on May 27, 2016. The company earned $0.82 per share on revenue of $1.31B. Analysts had been modeling earning per share of $0.7 with $1.3B in revenue.

Big Lots, Inc. (BIG) reported income from continuing operations of $38.6 million, or $0.79 per diluted share, for the first quarter of fiscal 2016 ended April 30, 2016. This result includes an after tax expense of $1.3 million, or $0.03 per diluted share, associated with legacy pension plans which have been terminated. Excluding this expense, adjusted income from continuing operations totaled $39.9 million, or $0.82 per diluted share (see non-GAAP table included later in this release), which compares to our guidance of adjusted income from continuing operations of $0.66 to $0.72 per diluted share (non-GAAP). Adjusted income from continuing operations for the first quarter of fiscal 2015 was $33.0 million, or $0.61 per diluted share (non-GAAP). Comparable store sales for stores open at least fifteen months increased 3.0% for the quarter, compared to our guidance of an increase in the low single digits. Net sales for the first quarter of fiscal 2016 increased 2.5% to $1,312.6 million, as our comparable store sales increase was partially offset by a lower store count compared to last year.

Commenting on today’s release, David Campisi, Chief Executive Officer and President of Big Lots, stated, “I’m very pleased with our first quarter results. Q1 comps increased for the 9th consecutive quarter and were at the high end of our guidance range. Jennifer continues to respond positively to our strategic focus on ownable and winnable merchandise categories, improved merchandise presentations and more consistent in-store execution.”

Big Lots Inc. earnings per share showed an increasing trend of 14.1% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 388%.Analysts project EPS growth over the next 5 years at 14.12%. It has EPS annual decline over the past 5 fiscal years of -0.2% when sales grew 0.9. It reported 2.5% sales growth, and 31.2% EPS growth in the last quarter.

The stock is trading at $49.26, up 47.11% from 52-week low of $33.78. The stock trades down -7.41% from its peak of $53.35 and % below the consensus price target of $54.15. Its volume clocked up at 0.93 million shares which is lower than the average volume of 1.16 million shares. Its market capitalization currently stands at $2.20B.

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