Walmart Stores, Inc. (WMT) reported Q3 earnings, exceeding market estimates as high inflation pushed more customers to seek out its discount prices.
- The retailer reported an adjusted EPS of $1.45 versus $1.40 expected.
- Revenue stood at $140.53 billion versus $135.60 billion market estimates.
- Net income dropped to $3.11 billion, or $1.11 per share, from $5.14 billion, or $1.80 per share, a year earlier.
- Total revenue increased by about 4% to $140.53 billion exceeding estimates of $135.60 billion and from $134.7 billion a year earlier.
- Walmart’s same-store sales in the U.S. rose by 9.2%, excluding fuel.
- E-commerce sales in the U.S. also increased 8% versus the year-ago quarter.
- Walmart raised its forecast for the year, with adjusted earnings per share of $6.40 higher than its prior expectations between $6.20 and $6.35.
Walmart CEO Doug McMillon informed that the company is optimistic about the holidays and will have stocks full. Inventory for Walmart in the U.S. is up 11.5% ahead of the busy shopping season, informed McMillon. The retailer’s size is assisting it to manage through disturbing supply chains, as it negotiates with manufacturers, bulks up its inventory, and charters its own ships for the movement of goods across the globe.
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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