Big Lots, Inc. Earnings Cheat Sheet: Two Straight Quarters of Profit Drops, but Beat Estimates

S&P 500 (NYSE:SPY) component Big Lots, Inc. (NYSE:BIG) reported its results for the second quarter. Big Lots, Inc. 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.

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Big Lots Earnings Cheat Sheet for the Second Quarter

Results: Net income for the discount store fell to $35.7 million (51 cents per share) vs. $38.9 million (48 cents per share) a year earlier. This is a decline of 8.2% from the year earlier quarter.

Revenue: Rose 2.2% to $1.17 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: BIG reported adjusted net income of 52 cents per share. By that measure, the company beat the mean estimate of 45 cents per share. Analysts were expecting revenue of $1.16 billion.

Key Stats:

The company has now seen net income fall in each of the last two quarters. In the first quarter, net income fell 6.1% from the year earlier quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 2 cents in the first quarter and by 8 cents in the fourth quarter of the last fiscal year.

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 0.6% to $1.23 billion in the first quarter from the year earlier.

Competitors to Watch: Family Dollar Stores, Inc. (NYSE:FDO), Dollar General Corp. (NYSE:DG), 99 Cents Only Stores (NYSE:NDN), Dollar Tree, Inc. (NASDAQ:DLTR), Duckwall-ALCO Stores, Inc (NASDAQ:DUCK), Target Corporation (NYSE:TGT), Fred’s, Inc. (NASDAQ:FRED), Wal-Mart Stores, Inc. (NYSE:WMT), Costco Wholesale Corp. (NASDAQ:COST), and Cost Plus, Inc. (NASDAQ:CPWM).

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(Source: Xignite Financials)