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May 03, 2025
Best Buy Q1 2026 Earnings Report
Best Buy reported mixed results with slightly declining revenue and earnings compared to the prior year.
Key Takeaways
Best Buy delivered in-line revenue and stronger-than-expected adjusted operating income in Q1 FY26, despite a slight decline in comparable sales and net income.
Enterprise revenue declined to $8.77B from $8.85B year-over-year.
Adjusted EPS came in at $1.15, above GAAP EPS of $0.95.
Net income dropped to $202M due to restructuring charges.
Online domestic sales increased by 2.1%, supporting overall performance.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Best Buy expects full-year revenue between $41.1B and $41.9B, and adjusted EPS between $6.15 and $6.30, reflecting tariff impacts and cautious consumer behavior.
Positive Outlook
- FY26 adjusted EPS guided at $6.15 to $6.30.
- Adjusted operating income rate expected to remain at 4.2%.
- Stable adjusted tax rate of approximately 25.0%.
- Online sales momentum in computing and mobile categories.
- Capital expenditures to remain steady at $700M.
Challenges Ahead
- Enterprise revenue guidance lowered from prior range.
- Comparable sales expected to range between -1% and +1%.
- Tariff impact factored into updated guidance.
- Q2 comparable sales expected to decline slightly.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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