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Why Walmart Earnings Were Particularly Strong in Q1

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By Chris Lange Updated Published
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Why Walmart Earnings Were Particularly Strong in Q1

© MikeMozartJeepersMedia / Wikimedia Commons

Walmart Inc. (NYSE: WMT | WMT Price Prediction) released its fiscal first-quarter financial results before the markets opened on Thursday. The company said that it had $1.13 in earnings per share (EPS) and $123.93 billion in revenue, which compares with consensus estimates of $1.02 in EPS and revenue of $124.98 billion. The same period of last year reportedly had EPS of $1.14 on $122.69 billion in revenue.

During the latest quarter, Walmart U.S. comparable sales increased by 3.4% and marked the best first-quarter comps in nine years. Not to mention, this is the fourth consecutive quarter above 3%. Sam’s Club comparable sales increased 0.3%.

Walmart U.S. eCommerce sales grew 37%, reflecting strong growth in online grocery, as well as the Home and Fashion categories. Sam’s Club eCommerce sales grew about 28%.

The company offered no guidance in the report. However, the consensus estimates call for $1.22 in EPS and $130.54 billion in revenue for the fiscal second quarter.

[nativounit]

Doug McMillon, president and CEO of Walmart, commented:

We’re changing to enable more innovation, speed and productivity, and we’re seeing it in our results. We’re especially pleased with the combination of comparable sales growth from stores and eCommerce in the U.S. Our team is demonstrating an ability to serve customers today while building new capabilities for the future, and I want to thank them for a strong start to the year.

Shares of Walmart closed Wednesday at $99.88, in a 52-week range of $81.78 to $106.21. The consensus price target is $108.47. Following the announcement, the stock was up about 2% at $101.88 in early trading indications Thursday.
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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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