Earnings Call
May 28, 2026
Q2 FY2026
EPS Estimate
1.22
EPS Actual
1.28
Post-Earnings Close
$74.74
Earnings Reaction
+15.8%
Best Buy's second quarter of fiscal 2026 came in ahead of expectations on virtually every headline metric, with enterprise comparable sales rising 1.6%, the strongest quarterly comp in three years, against guidance that had called for a slight decline. Revenue of $9.4 billion beat the consensus estimate, adjusted EPS of $1.28 exceeded the $1.22 estimate, and the adjusted operating income rate of 3.9% came in 30 basis points better than the company's own outlook, driven primarily by SG&A leverage on the stronger-than-expected top line. The gross profit rate declined 30 basis points year-over-year to 23.4% domestically, largely a mix story as gaming and computing, both lower-margin categories, led the outperformance. Management was candid that the beat came with a margin trade-off, and the full-year operating income rate guidance of approximately 4.2% was left unchanged even as the company signaled it is trending toward the high end of its $41.1 billion to $41.9 billion revenue range.
Report generated on May 27, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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