Walmart Inc. (NYSE: WMT) released its fiscal third-quarter financial results before the markets opened on Thursday. The stock hit a record high on Monday, and while earnings topped estimates, investors sent shares lower.
The company said that it had $1.34 in earnings per share (EPS) and $134.7 billion in revenue, which compares with consensus estimates of $1.18 in EPS and revenue of $132.23 billion. The same period of last year reportedly had EPS of $1.16 on $127.99 billion in revenue.
During the latest quarter, Walmart U.S. comparable sales increased by 6.4%, led by strength across key categories, including general merchandise, health and wellness and food. Walmart U.S. e-commerce sales grew 79%, reflecting strong results across all channels.
Sam’s Club comparable sales increased 11.1%. eCommerce sales grew 41%. Reduced tobacco sales negatively affected comparable sales. New member sign-ups and renewal rates were strong, particularly Plus membership. Membership income increased 10.4% year over year.
Walmart International net sales increased 1.3% to $29.6 billion. Changes in currency rates negatively affected net sales by about $1.1 billion.
Walmart has withdrawn its fiscal full-year outlook. However, the consensus analyst estimates call for $5.33 in EPS and $550.17 billion in revenue for the year.
Management noted that the company’s net sales and operating results continue to be affected by the global health crisis. The increased demand for products across multiple categories led to strong top-line and gross margin results.
Shares of Walmart traded down fractionally Tuesday morning at $152.58, in a 52-week range of $102.00 to $153.40. The consensus price target is $149.23.
24/7 Wall St.Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
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 you build your plan to retire early. 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.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.