Dow 30 component, Walmart Stores, Inc. (WMT) reported strong first-quarter earnings, witnessing a strong push from e-commerce and grocery sales.
- Walmart reported an adjusted EPS of $1.69 versus $1.21 expected.
- Revenue stood at $138.31 billion versus $131.97 billion expected for the quarter ended April 30.
- Net income increased to $2.73 billion, or 97 cents per share, from $3.99 billion, or $1.40 per share, a year earlier.
- Total revenue grew by nearly 3% to $138.31 billion from $134.62 billion a year earlier, exceeding market expectations of $131.97 billion.
- Walmart’s same-store sales in the U.S. grew by 6%, higher than the 0.9% increase expected by analysts.
- E-commerce sales grew by 37% in the U.S.
- Same-store sales for Walmart subsidiary Sam’s Club increased by 7.2% excluding fuel, more than the 1.2% growth expected by analysts.
- International’s net sales of $27.3 billion were reported, an 8.3% decline year over year. Its e-commerce sales increased by 49% in that segment.
Walmart Chief Financial Officer Brett Biggs stated “Stimulus helped in Q1, and because of that, we increased profit and revenue guidance,” He said the company also boosted its outlook because of what it has seen in the second quarter.
Walmart raised its outlook for the fiscal year with earnings per share and operating income to increase in the high single-digits. It expects Walmart U.S. and Sam’s Club same-store sales will grow in the low single-digits, excluding fuel and tobacco.
Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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