Stock Monitor: Ollie's Bargain Outlet Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 02, 2018 / Active-Investors.com has just released a free earnings report on Big Lots, Inc. (NYSE: BIG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=BIG. The Company posted its financial results for the third quarter fiscal 2017, on December 01, 2017. The discount retailer's adjusted EPS surpassed analysts' expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI), which also belongs to the Services sector as the Company Big Lots. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Big Lots most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=BIG
Earnings Highlights and Summary
For three months ended October 28, 2017, Big Lots' net revenue was $1.11 billion, almost on par with the $1.11 billion reported in Q3 FY16. For the reported quarter, the Company's comparable store sales growth was 1%. The Company's net revenue was below analysts' expectations of $1.12 billion.
During Q3 FY17, Big Lots' gross profit increased 0.4% to $443.63 million from $441.99 million in the same period last year. For the reported quarter, the Company's gross margin decreased 10 basis points to 39.9% of revenue from 40.0% of revenue in Q3 FY16.
During Q3 FY17, Big Lots' operating income increased 189.8% to $5.80 million from $2.00 million in the same period last year. For the reported quarter, the Company's operating profit was negatively impacted, or lowered by approximately $2 million due to weather-related or hurricane-related costs. For the reported quarter, the Company's operating margin increased 30 basis points to 0.5% of revenue from 0.2% of revenue in Q3 FY16. For the reported quarter, the Company's adjusted operating margin was 0.3% of revenue, on par with 0.3% of revenue in Q3 FY16.
During Q3 FY17, Big Lots' earnings before tax (EBT) increased 308.7% to $4.13 million from $1.01 million in the same period last year. For the reported quarter, the Company's EBT margin increased 30 basis points to 0.4% of revenue from 0.1% of revenue in Q3 FY16.
For the reported quarter, Big Lots' net income increased 217.7% to $4.37 million on a y-o-y basis from $1.38 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 233.3% to $0.10 on a y-o-y basis from $0.03 in the same period last year. For the reported quarter, Big Lots' adjusted net income increased 32.9% to 2.52 million on a y-o-y basis from $1.90 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 50% to $0.06 on a y-o-y basis from $0.04 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.05.
Balance Sheet
As on October 28, 2017, Big Lots' cash and cash equivalents decreased 2.9% to $58.01 million from $59.74 million on October 29, 2016. For the reported quarter, the Company's long-term obligations increased 2.5% to $371.90 million from $362.90 million in Q3 FY16.
During Q3 FY17, the Company's net cash provided by operating activities was negative $70.89 million compared to negative $67.96 million in the same period last year.
On November 29, 2017, the Company's Board of Directors declared a quarterly cash dividend of $0.25 per common share, payable on December 29, 2017, to shareholders of record as of the close of business on December 15, 2017.
Outlook
For Q4 FY17, the Company expects adjusted diluted EPS to be in the range of $2.35 to $2.40 and estimates adjusted diluted EPS to be in the range of $4.23 to $4.28 for fiscal 2017.
Stock Performance Snapshot
December 29, 2018 - At Friday's closing bell, Big Lots' stock marginally climbed 0.66%, ending the trading session at $56.15.
Volume traded for the day: 906.86 thousand shares.
Stock performance in the last three-month - up 4.82%; previous six-month period - up 16.25%; past twelve-month period - up 10.79%; and year-to-date - up 11.83%
After last Friday's close, Big Lots' market cap was at $2.34 billion.
Price to Earnings (P/E) ratio was at 14.33.
The stock has a dividend yield of 1.78%.
The stock is part of the Services sector, categorized under the Discount, Variety Stores industry.
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