Walmart Inc. (NYSE: WMT) 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In terms of guidance, Walmart has withdrawn its fiscal full-year outlook.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.
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.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
