Best Buy (BBY) Q4 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, March 3, 2026 astatine 8:45 AM CST 51 min read

Image source: The Motley Fool.

March 3, 2026 astatine 8 a.m. ET

• Chief Executive Officer — Corie Barry

• Chief Financial and Strategy Officer — Matthew M. Bilunas

• Chief Customer, Product and Fulfillment Officer — Jason J. Bonfig

• Vice President, Investor Relations — Mollie O'Brien

Mollie O'Brien: Thank you, and bully morning, everyone. Joining maine connected the telephone contiguous are Corie Barry, our CEO, Matthew M. Bilunas, our Chief Financial and Strategy Officer, and Jason J. Bonfig, our Chief Customer, Product and Fulfillment Officer. During the telephone today, we volition beryllium discussing some GAAP and non-GAAP fiscal measures. A reconciliation of these non-GAAP fiscal measures to the astir straight comparable GAAP fiscal measures, and an mentation of wherefore these non-GAAP fiscal measures are used, tin beryllium recovered successful this morning's net release, which is disposable connected our website, investors.bestbuy.com. Some of the statements we volition marque contiguous are considered forward-looking wrong the meaning of the Private Securities Litigation Reform Act of 1995.

These statements whitethorn code the fiscal condition, concern initiatives, maturation plans, investments and expected show of the institution and are taxable to risks and uncertainties that could origin existent results to disagree materially from specified forward-looking statements. Please notation to the company's existent net merchandise and our astir caller Form 10-Ks and consequent 10-Qs for much accusation connected these risks and uncertainties. The institution undertakes nary work to update oregon revise immoderate forward-looking statements to bespeak events oregon circumstances that whitethorn originate aft the day of this call. I volition present crook the telephone implicit to Corie.

Corie Barry: Good morning, everyone, and convey you for joining us. Today, we are reporting better-than-expected profitability for the 4th quarter. On gross of $13,800,000,000 we delivered an adjusted operating income complaint of 5% and adjusted net per stock of $2.61, some of which are somewhat up to past year. Our Q4 comparable income were down 0.8% versus past year, wrong our guidance scope for the quarter. Our information sources amusement our marketplace stock was astatine slightest level pointing to somewhat softer user request for our manufacture during the vacation quarter. Our vacation lawsuit request patterns were besides antithetic than modeled contempt income lawsuit timing that was precise akin to past year's. We saw softer-than-expected income successful November and December.

We past experienced beardown income successful the past 2 weeks of December and the January week of the quarter. And income were negatively impacted by weather-induced store closures during the last. We were prepared for a promotional holiday, and the situation was adjacent a spot much than we factored heading into the quarter. I'm arrogant of however our squad strategically pivoted passim the 4th successful presumption of marketing, promotionality, and labor. From a merchandise class perspective, we delivered our eighth consecutive 4th of affirmative comparable income successful computing, driven by laptops, desktops, and accessories. In mobile phones, we delivered our 4th consecutive 4th of maturation driven by our expanded partnerships and in-store operating exemplary improvements with ample carriers.