Best Buy Tightens FY2024 Adj EPS Guidance from $5.70-6.50 to $6.00-6.40 vs $6.10 Est; Lowers FY2024 Sales Guidance from $43.80B-45.20B to $43.80B-44.50B vs $44.29B Est
Portfolio Pulse from Benzinga Newsdesk
Best Buy has revised its FY2024 guidance, tightening its adjusted EPS guidance from $5.70-$6.50 to $6.00-$6.40, and lowering its sales guidance from $43.80B-$45.20B to $43.80B-$44.50B. The company expects a comparable sales decline of 4.5% to 6.0%, and capital expenditures of approximately $850 million.
August 29, 2023 | 11:07 am
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Best Buy's revised FY2024 guidance could potentially impact its stock price. The company has tightened its adjusted EPS guidance and lowered its sales guidance.
Best Buy's revised guidance, particularly the lowering of its sales guidance, could be perceived negatively by investors, potentially leading to a decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100