Bed, Bath & Beyond Inc.

-0.43 (-2.98%)
Other Pre-Announcement

Bed Bath & Beyond Sees Q3 Adjusted EPS $0.00-$0.05

Published: 09/30/2021 11:57 GMT
Bed, Bath & Beyond Inc. (BBBY) - .
Reports Second Quarter Results Delivering Positive Operating Cash Flow.
Sees Q3 Adjusted Earnings per Share $0.00 to $0.05.
Q2 Adjusted Earnings per Share $0.04 Excluding Items.
Q2 Loss per Share $0.72.
Sees Q3 Sales $1.96 Billion to $2.0 Billion.
Sees FY Sales $8.1 Billion to $8.3 Billion.
Q2 Sales $1.985 Billion Versus Refinitiv Ibes Estimate of $2.06 Billion.
Q2 Earnings per Share Estimate $0.52 -- Refinitiv Ibes Data (analyst estimates).
Updates Full Fiscal Year 2021 Outlook.
Following Solid Growth in June, We Saw Unexpected, External Disruptive Forces Towards End of Quarter That Impacted Our Outcome.
In August, Traffic Slowed Significantly And, Therefore, Sales Did Not Materialize As We Had Anticipated.
As Covid-19 Fears Re-emerged Amid On-going Delta Variant, We Experienced a Challenging Environment.
Bed Bath & Beyond - Supply Chain Challenges Impacting Industry Pervasively, We Saw Steeper Cost Inflation Escalating by Month, Especially Later in Quarter.
Qtrly Comparable Sales Decline of 1% Versus Q2 2020.
Entered Next Phase of Our Supply Chain Modernization Through Our Partnership With Ryder.
Qtrly Cash, Cash Equivalents, Restricted Cash and Investments Totaled Approximately $1.1 Billion.
Sees FY Adjusted Earnings per Share $0.70 to $1.10.
Q3 Earnings per Share View $0.28, Revenue View $2.02 Billion -- Refinitiv Ibes Data (analyst estimates).