Bed Bath & Beyond Reports Worse Than Expected Q2 Results
<p><a href='https://financialmodelingprep.com/financial-summary/BBBY'>Bed Bath & Beyond (NASDAQ:BBBY)</a> reported its Q2 results, with EPS of ($3.22) coming in worse than the Street estimate of ($1.80). Revenue was $1.44 billion, missing the Street estimate of $1.47 billion.</p>
<p>The company provided its full-year outlook, expecting comparable sales to decline by approximately 20%. The company still expects to close 150 underperforming stores and is targeting at least 100 store closures by the end of 2022.</p>
<p>Analysts at Wedbush provided their views on the company following the earnings announcement. Against this backdrop, the analysts now estimate a $436 million adjusted EBITDA loss for 2022 (vs. prior $314 million loss) and free cash flow of ($1.1) billion (vs. prior ($620) million), driving liquidity to only around $740 million at the end of Q4. The analysts reiterated their Underperform rating and $5 price target on the company’s shares. </p>

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