Bed Bath & Beyond Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended December 1, 2018. For the quarter, the company reported net sales of $3,032,231,000 as compared to $2,954,539,000 a year ago. Operating profit was $49,513,000 as compared to $108,360,000 a year ago. Earnings before provision for income taxes were $26,822,000 as compared to $94,739,000 a year ago. Net earnings were $24,354,000 as compared to $61,301,000 a year ago. Basic earnings per share were $0.18 as compared to $0.44 per diluted share a year ago.

For nine months, the company reported net sales of $8,720,916,000 as compared to $8,633,037,000 a year ago. Operating profit was $209,600,000 as compared to $424,218,000 a year ago. Earnings before provision for income taxes were $155,566,000 as compared to $374,851,000 a year ago. Net earnings were $116,569,000 as compared to $230,814,000 a year ago. Basic earnings per share were $0.86 as compared to $1.65 a year ago. Diluted earnings per share were $0.86 as compared to $1.64 a year ago.

The company provided earnings guidance for the fiscal year 2018. The company continues to model net earnings per diluted share for the full year to be about $2.00.

The company is ahead of plan with respect to its longer-term financial goals to moderate the declines in its operating profit and net earnings per diluted share, this year and next, and grow net earnings per diluted share by 2020, and based on its preliminary assumptions, believes that its fiscal 2019 net earnings per diluted share will be about the same as fiscal 2018.