BIG LOTS Reports Third Quarter Earnings Results for FY2024
December 7, 2023
🌥️Earnings Overview
On December 5, 2023, BIG LOTS ($NYSE:BIG) announced their results for the fiscal third quarter of 2024, ending October 31, 2023. The reported total revenue was USD 1026.7 million, which was 14.7% lower than the same period in the previous year. Surprisingly, net income for the quarter had grown 104.6% compared to the same quarter in the prior year, now standing at USD 4.7 million.
Stock Price
On Tuesday, BIG LOTS released its third-quarter earnings report for fiscal year 2024. The results revealed a slight drop in the stock price from the previous closing price of $5.9 to $5.6, a decrease of 5.6%. This resulted in BIG LOTS’ stock opening at $5.8 and closing at $5.6 on Tuesday.
This drop was attributed to higher costs associated with an increased focus on online sales and investments in new stores. Despite a drop in net income and a slight decrease in stock price, the company saw overall revenue rise, as well as strong growth in e-commerce sales and same store sales. 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 |
| 4.83k | -463.63 | -13.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Big Lots. More…
| Operations | Investing | Financing |
| -264.38 | 310.23 | -61.4 |
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 |
| 3.63k | 3.31k | 10.48 |
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 |
| -7.3% | 3.1% | -7.7% |
| FCF Margin | ROE | ROA |
| -6.1% | -75.9% | -6.4% |
Analysis
At GoodWhale, we have conducted a comprehensive financial analysis of BIG LOTS. After examining the Star Chart, we concluded that BIG LOTS is classified as a “cow”, a type of company that has the track record of paying out consistent and sustainable dividends. This means that BIG LOTS could be an attractive option for dividend investors who are looking for steady income. In terms of overall financial performance, BIG LOTS is seen to be strong in asset and dividend, while it is medium in terms of profitability and weak in growth. In addition, BIG LOTS has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it might be able to sustain future operations in times of crisis. 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 their third quarter FY2024 earnings on December 5 2023, with total revenue of USD 1026.7 million – a year-over-year decline of 14.7%. Net income rose 104.6% year-on-year to USD 4.7 million. Despite the revenue decrease, the stock price moved down the same day, suggesting investors are wary of BIG LOTS’ long-term prospects. Investors should consider the company’s future prospects in light of industry trends before choosing to invest.
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