Best Buy Co., Inc. (BBY) CEO Corie Barry on Q1 2023 Results - Earnings Call Transcript

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Q1: 2022-05-24 Earnings Summary

EPS of $1.57 beats by $0.02
 | Revenue of $10.65B (-8.51% Y/Y) beats by $202.47M

Best Buy Co., Inc. (NYSE:BBY) Q1 2023 Earnings Conference Call May 24, 2022 8:00 AM ET

Company Participants

Mollie O’Brien - Vice President, Investor Relations
Corie Barry - Chief Executive Officer
Matt Bilunas - Chief Financial Officer

Conference Call Participants

Steven Forbes - Guggenheim Partners
Joe Feldman - Telsey
Mike Baker - D.A. Davidson
Karen Short - Barclays
Seth Basham - Wedbush Securities
Jonathan Matuszewski - Jefferies
Brad Thomas - KeyBanc
Scot Ciccarelli - Truist Security
Scott Mushkin - R5 Capital
Peter Keith - Piper Sandler

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Best Buy’s First Quarter Fiscal ‘23 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded for playback and will be available by approximately 11 a.m. Eastern Time today. [Operator Instructions] I will now turn the conference call over to Mollie O’Brien, Vice President of Investor Relations. Please go ahead.

Mollie O’Brien

Thank you and good morning, everyone. Joining me on the call today are Corie Barry, our CEO; and Matt Bilunas, our CFO.

During the call today, we will be discussing both GAAP and non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures and an explanation of why these non-GAAP financial measures are useful can be found in this morning’s earnings release, which is available on our website, investors.bestbuy.com.

Some of the statements we will make today are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may address the financial condition, business initiatives, growth plans, investments and expected performance of the company and are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Please refer to the company’s current earnings release and our most recent 10-K and subsequent 10-Qs

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