Walmart Knocks It Out of the Park With Q1 Digital Sales
Walmart released better than expected fiscal first-quarter financial results before the markets opened on Thursday.
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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 $1.18 in earnings per share (EPS) and $134.6 billion in revenue, which compares with consensus estimates of $1.17 in EPS and revenue of $130.31 billion. The same period of last year reportedly had EPS of $1.13 on $123.9 billion in revenue.
During the latest quarter, Walmart U.S. comparable sales increased by 10.0%, led by strength in food, consumables, health and wellness and some general merchandise categories. Sam’s Club comparable sales increased 12.0%.
Walmart U.S. e-commerce sales grew 74%, reflecting strong results for grocery pickup and delivery services. Sam’s Club e-commerce sales grew about 40%.
In terms of guidance, Walmart has withdrawn its fiscal full-year outlook. However, the consensus estimates call for $5.07 in EPS and $542.63 billion in revenue for the year.
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Doug McMillon, president and CEO of Walmart, commented:
More than ever, the news this quarter is our amazing associates. They are rising to the challenge to serve our customers and our communities. I’m proud of how they’re adapting and performing. Our omnichannel strategy, enabling customers to shop in seamless, flexible ways, is built for serving the needs of customers during this crisis and in the future.
Shares of Walmart traded up about 1% early Tuesday at $129.14, in a 52-week range of $100.40 to $133.38. The consensus price target is $128.56.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
