🔹 Revenue: $9.44B (Est. $9.23B) 🟢; +1.6% YoY
🔹 Adj EPS: $1.28 (Est. $1.22) 🟢; -4% YoY
🔹 Net Income: $186M (Est. $260M) 🔴; -28% YoY
FY26 Guidance:
🔹 EPS: $6.15–$6.30 (Est. $6.19) 🟡
🔹 Revenue: $41.1B–$41.9B (Est. $41.41B) 🟡
🔹 Comparable Sales: -1% to +1%
🔹 Adjusted Operating Margin: ~4.2%
🔹 Capex: ~$700M
🔹 Q3 Comparable Sales Growth: expected similar to Q2 (+1.6%)
Segment Results:
Domestic:
🔹 Revenue: $8.70B; UP +0.9% YoY
🔹 Comparable Sales: +1.1% YoY; Online +5.1% YoY
🔹 Gross Profit Rate: 23.4% vs. 23.5% prior
International:
🔹 Revenue: $740M; UP +11.3% YoY
🔹 Comparable Sales: +7.6% YoY
🔹 Gross Profit Rate: 21.8% vs. 23.9% prior
Other Metrics:
🔹 Operating Margin: 2.7% (Adj. 3.9%) vs. 4.1% prior
🔹 Restructuring Charges: $114M in Q2
🔹 Shareholder Returns Q2: $266M (Dividends $201M + Buybacks $65M)
🔹 Dividend: $0.95/share (payable Oct 9, 2025; record Sep 18, 2025)
CEO & CFO Commentary:
🔸 CEO Corie Barry: “We delivered our highest comparable sales growth in three years, driven by innovation, omni-channel focus, and vendor partnerships.”
🔸 “Momentum has continued into August with strong back-to-school sales and our new Best Buy Marketplace launch.”
🔸 CFO Matt Bilunas: “Gross margin mix was pressured by growth in gaming and computing, but adjusted operating income was better than expected.”
🔸 “For Q3, we expect comps similar to Q2 and operating margin around 3.7%, consistent with last year.”
