Best Buy (BBY) Q1 2027 earnings summary

Executive summary

• Comparable sales increased 2% year-over-year, exceeding expectations, with broad-based category growth and strong performance in Best Buy Ads and Marketplace initiatives.

• Adjusted diluted EPS grew 11% year-over-year to $1.28; diluted EPS rose 38% to $1.31.

• Strategic focus on omni-channel retail, new profit streams, and scaling Best Buy Ads and Marketplace initiatives.

• CEO succession announced: Jason Bonfig to assume CEO role on November 1, with a seamless transition underway; Corie Barry to step down later in 2026.

Financial highlights

• Revenue for Q1 was $8.94 billion, up 1.9% year-over-year.

• Adjusted operating income rate reached 4.1%, up 30 basis points year-over-year.

• Net earnings were $276 million, up from $202 million year-over-year.

• Domestic revenue grew 1.5% to $8.25 billion; international revenue increased 7.3% to $687 million.

• Online revenue was $2.6 billion, representing 32% of domestic revenue.

Outlook and guidance

• FY27 guidance maintained: revenue of $41.2–$42.1 billion, comparable sales of -1% to +1%, adjusted operating income rate of 4.3–4.4%, and adjusted EPS of $6.30–$6.60.

• Q2 comparable sales expected to grow ~1%, with operating income rate flat year-over-year at 3.9%.

• Capital expenditures projected at $750 million; $300 million planned for share repurchases.