Report published August 27, 2026
Best Buy Co. (BBY) 2Q27 Earnings Research: Goldman Sachs Analysis & Rating
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 27, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Kate McShane, CFA, Grace Chee, Mark Jordan, CFA, Emily Ghosh, Nishi Agarwal, Samantha Chiang
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Best Buy reported 2Q27 adjusted EPS of $1.47 on 4.1% enterprise comparable sales growth, topping consensus estimates; however, the EPS beat was largely driven by a $34mn tariff refund. Goldman Sachs maintains its Sell rating with a $62 12-month price target.
Key Takeaways
- 1.Best Buy reported 2Q27 adjusted EPS of $1.47, beating GS ($1.36) and consensus ($1.39), but the beat was driven by a $34mn tariff refund without which EPS would have been ~$1.36.
- 2.Enterprise comparable sales grew 4.1% y/y, well above GS (+0.5%) and consensus (1.3%), propelled by domestic comps (+4.5%) and domestic online comps (+5.1%).
- 3.Management raised full-year FY27 guidance across revenue ($42.3bn-$42.8bn), comparable sales growth (1.9%-3.0%), and adjusted EPS ($6.70-$6.90).
Table of Contents
- Analysis
- Implications
- Valuation & Risks
- Disclosure Appendix
Report data
Exhibit 1: BBY results vs. GS estimates — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 2Q27 Adjusted EPS | 1.47 USD | Reported adjusted EPS compared to GS estimate of $1.36 and consensus of $1.39 |
| Enterprise Comparable Sales Growth | 4.1% | Enterprise comp growth vs. GS estimate of +0.5% and consensus of 1.3% |
| Tariff Refunds | 34.0 USD million | Benefit included in 2Q27 gross margin and operating income |
| 12-Month Price Target | 62.0 USD | Reiterated price target implying -29.1% downside from $87.44 share price |
| FY27 Guidance - Adjusted EPS | 6.70-6.90 USD | Raised from prior outlook of $6.30-$6.60 vs consensus of $6.62 |
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Authors / Editors
Reported Data Context
- 2Q27 Adjusted EPS: 1.47 USD (2Q27) · Source: Best Buy Co., Goldman Sachs Global Investment Research, FactSet
- Enterprise Comparable Sales Growth: 4.1 % (2Q27) · Source: Best Buy Co., Goldman Sachs Global Investment Research, FactSet
- Tariff Refunds: 34.0 USD million (2Q27) · Source: Best Buy Co., Goldman Sachs Global Investment Research
- 12-Month Price Target: 62.0 USD (12-month) · Source: Goldman Sachs Global Investment Research
- FY27 Guidance - Adjusted EPS: 6.70-6.90 USD (FY27) · Source: Best Buy Co., FactSet
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