WASHINGTON (dpa-AFX) - While reporting financial results for the second quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) raised its adjusted earnings, revenue and comparable sales guidance for the full-year 2027 to reflect strong first half performance and its momentum.
For fiscal 2027, the company now projects adjusted earnings in a range of $6.70 to $6.90 per share on revenues between $42.3 billion and $42.8 billion, with a comparable sales growth of 1.9 to 3.0 percent.
Previously, the company expected adjusted earnings in a range of $6.30 to $6.60 per share on revenues between $41.2 billion and $42.1 billion, with a comparable sales change between a decline of 1.0 percent and a growth of 1.0 percent.
The company also said it expects comparable sales growth of 1 to 3 percent for the third quarter.
The company also announced its board of directors has authorized the payment of a regular quarterly cash dividend of $0.96 per common share, payable on October 8, 2026, to shareholders of record as of the close of business on September 17, 2026.
The company said it expects to spend approximately $300 million on share repurchases during fiscal 2027.
In Thursday's pre-market trading, BBY is trading on the NYSE at $86.08, down $1.31 or 1.49 percent.
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