Big Lots (BIG) To Report Earnings Tomorrow: Here Is What To Expect

Anthony Lee /
2024/06/05 3:00 am EDT

Discount retail company Big Lots (NYSE:BIG) will be reporting earnings tomorrow before the bell. Here's what to expect.

Big Lots met analysts' revenue expectations last quarter, reporting revenues of $1.43 billion, down 7.2% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings estimates.

Is Big Lots a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Big Lots's revenue to decline 7.5% year on year to $1.04 billion, improving from the 18.3% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$3.92 per share.

Big Lots Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Big Lots has missed Wall Street's revenue estimates five times over the last two years.

Looking at Big Lots's peers in the discount retailer segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Burlington delivered year-on-year revenue growth of 10.5%, meeting analysts' expectations, and Ross Stores reported revenues up 8.1%, in line with consensus estimates. Burlington traded up 19.8% following the results while Ross Stores was also up 7.8%.

Read our full analysis of Burlington's results here and Ross Stores's results here.

There has been positive sentiment among investors in the discount retailer segment, with share prices up 8.3% on average over the last month. Big Lots is down 7% during the same time and is heading into earnings with an average analyst price target of $4 (compared to the current share price of $3.32).

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