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May 03
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.
Best Buy
Best Buy
Best Buy Revenue by Segment
Best Buy Revenue by Geographic Location
Revenue by Segment
Domestic segment Revenue
CapyFin.comInternational segment Revenue
CapyFin.comRevenue by Geographic Location
Domestic Revenue
CapyFin.comInternational Revenue
CapyFin.com 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.
- Lower profit-sharing revenue from private label credit cards.
Revenue & Expenses
Visualization of income flow from segment revenue to net income