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Bed Bath & Beyond Q2 earnings preview

Posted Sep 23rd 2009 12:00PM by Trey ThoelckeTrey Thoelcke RSS Feed
Filed under: Earnings reports, Forecasts, Bed Bath and Beyond (BBBY)

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Bed Bath & Beyond Inc. (NASDAQ: BBBY), the largest domestic superstore chain in the U.S., is scheduled to discuss its second quarter 2009 results Wednesday in a conference call at 5:00 PM ET. You can catch the live webcast of the call on the company's website.

The retailer easily beat Wall Street expectations in the first quarter, and for the three months that ended in August, analysts surveyed by Thomson Reuters expect the New Jersey-based company to report net income of $0.48 per share, two pennies per share better than a year ago. Revenue for the second quarter is expected to be 2.8% higher to $1.9 billion.

So far the forecast is for marginally higher year-over-year profit and sales in the third quarter. And for the full year, analysts are looking for $1.79 per share (+8.4%) on $7.5 billion (+3.8%). Bed Bath & Beyond has topped earnings expectations in the past five quarters, by as much as 11 cents per share.

The long-term EPS growth forecast is 12.3%, which is better than that of competitor Wal-Mart Stores Inc. (NYSE: WMT), and the earnings multiple is 21x. The First Call consensus recommendation remains to buy BBBY; Zacks anticipates an upside surprise from its second-quarter results.

Bed Bath & Beyond shares have risen about 40% in the past three months and are trading near a 52-week high.

Visit AOL Money & Finance for more earnings coverage.

Tags: BBBY, Bed Bath and Beyond, earnings, Wal-Mart, Walmart, WMT

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Last updated: November 26, 2009: 02:52 AM

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