Retail

Walmart Knocks It Out of the Park With Q1 Digital Sales

Chris Lange

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In terms of guidance, Walmart has withdrawn its fiscal full-year outlook.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.