Big Lots First Quarter Earnings Sneak Peek

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S&P 500 (NYSE:SPY) component Big Lots, Inc. (NYSE:BIG) will unveil its latest earnings on Wednesday, May 23, 2012. Big Lots operates as a broadline closeout retailer through its subsidiaries in the United States. It sells a number of products, including food, home decor, and furniture.

Big Lots, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 69 cents per share, a decline of 1.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 81 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 79 cents during the last month. Analysts are projecting profit to rise by 11.4% compared to last year’s $3.33.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the fourth quarter of the last fiscal year, it reported net income of $1.75 per share against a mean estimate of profit of $1.73 per share. In the third quarter of the last fiscal year, it missed forecasts by 4 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 5.7% in revenue from the year-earlier quarter to $1.3 billion.

Analyst Ratings: Analysts seem relatively indifferent about Big Lots with seven of 13 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 4.2% to $114.7 million ($1.68 a share) from $110.1 million ($1.42 a share) the year earlier, exceeding analyst expectations. Revenue rose 9.9% to $1.67 billion from $1.52 billion.

Key Stats:

After some good news last quarter, the company is trying to build on the result with this upcoming earnings announcement. Net income fell in the first quarter of the last fiscal year, the second quarter of the last fiscal year and the third quarter of the last fiscal year before snapping that run with a profit increase in the fourth quarter of the last fiscal year.

On the top line, the company is looking to build on three-straight revenue increases heading into this earnings announcement. Revenue increased 2.2% in the second quarter of the last fiscal year and 7.8% in the third quarter of the last fiscal year before climbing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between March 21, 2012 and May 17, 2012, the stock price had fallen $10.59 (-23.3%), from $45.53 to $34.94. The stock price saw one of its best stretches over the last year between October 13, 2011 and October 24, 2011, when shares rose for eight straight days, increasing 11.2% (+$3.88) over that span. It saw one of its worst periods between July 26, 2011 and August 8, 2011 when shares fell for 10 straight days, dropping 20.1% (-$7.32) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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