Walmart Inc. (NYSE: WMT) 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.
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.
24/7 Wall St.Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
