BIG LOTS Reports Earnings Results for Second Quarter of FY2024
September 5, 2023
🌥️Earnings Overview
For the second quarter of FY2024, ending on July 31 2023, BIG LOTS ($NYSE:BIG) reported total revenue of USD 1139.4 million, a decrease of 15.4% as compared to the same quarter in the previous year. Net income was also reported to be USD -249.8 million, a drop from -84.2 million in the previous year’s quarter.
Share Price
On Thursday, BIG LOTS reported its earnings results for the second quarter of FY2024. The company’s stock opened at $6.9 and closed at $6.2, representing a 10.8% plunge from its last closing price of $7.0. BIG LOTS responded with a series of proactive measures to adjust to the new market environment, such as increasing their focus on digital channels and expanding their product offerings to include essential items. In light of these earnings results, BIG LOTS is focusing on further optimizing their operations and leveraging their digital capabilities to drive future long-term growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Big Lots. More…
| Total Revenues | Net Income | Net Margin |
| 5.47k | -571.39 | -10.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Big Lots. More…
| Operations | Investing | Financing |
| -159.49 | -42.45 | 198.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Big Lots. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.38k | 3.07k | 18.9 |
Key Ratios Snapshot
Some of the financial key ratios for Big Lots are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -2.3% | 3.1% | -9.5% |
| FCF Margin | ROE | ROA |
| -4.2% | -59.2% | -9.7% |
Analysis
As an analysis by GoodWhale, BIG LOTS falls into the category of a ‘cow’ company, according to the Star Chart. This suggests that the company has a track record of paying out consistent and sustainable dividends, which may be of interest to dividend-seeking investors. Furthermore, BIG LOTS has an intermediate health score of 6/10, indicating that it is likely to safely ride out any crisis without the risk of bankruptcy. In terms of its financial strength, BIG LOTS is strong in assets and dividends, while medium in profitability and weak in growth. This makes it an attractive choice for those looking to make a long-term investment. More…
Peers
Big Lots Inc is an American retail company that competes with other discount retailers such as B&M European Value Retail SA, Dollar General Corp, and Target Corp. Big Lots offers a variety of merchandise including furniture, seasonal items, grocery, and home decor. The company operates over 1,400 stores in 47 states.
– B&M European Value Retail SA ($LSE:BME)
B&M European Value Retail SA is a holding company that operates through its subsidiaries. The company is engaged in the retail sector and operates stores under the following banners: B&M, Heron Foods, Dealz, and Jawol. The company was founded in 1978 and is headquartered in London, United Kingdom.
– Dollar General Corp ($NYSE:DG)
Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee. As of February 2020, Dollar General operated 16,368 stores in the continental United States. The company offers a selection of merchandise, including consumables, seasonal, home goods, and apparel.
– Target Corp ($NYSE:TGT)
Target is one of the largest discount retailers in the United States. The company offers a wide variety of merchandise, including apparel, home goods, electronics, and more. Target is known for its competitive prices and its commitment to customer satisfaction. The company has a market cap of 74.48B as of 2022 and a return on equity of 34.09%. Target is a publicly traded company and its shares are traded on the New York Stock Exchange.
Summary
BIG LOTS reported second quarter earnings results for FY2024 with total revenue of USD 1139.4 million, a 15.4% decrease from the same period in the previous year. Net income was reported at USD -249.8 million, a decline from -84.2 million in the same quarter of the previous year. The company’s stock price reacted negatively on the news and investors are now taking a closer look at BIG LOTS to assess its financial performance and potential investment opportunity.
Analysts will be evaluating the company’s financials, such as cash flow, debt ratio, and earnings outlook. Going forward, investors will need to assess the company’s risk profile to determine if they should invest in BIG LOTS or not.
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