Walmart Inc. (WMT) surpassed market expectations on earnings for the third quarter of 2019 but revenues came in shy. The stock was up 0.5% in premarket hours on Thursday.
Total revenue grew 1.4% year-over-year to $124.9 billion, slightly missing the consensus estimate of $125.5 billion. Excluding currency, revenues grew 2.4% to $126.1 billion.
Consolidated net income attributable to Walmart dropped 2.2% year-over-year to $1.71 billion. On a GAAP basis, EPS totaled $0.58 while on an adjusted basis, EPS was $1.08. Analysts had projected adjusted EPS of $1.01.
Comparable sales grew 3.4% in Walmart US and 3.2% in Sam’s Club. US ecommerce sales grew 43% during the quarter. Grocery pickup is now available in around 2,100 locations and grocery delivery is available in around 600 locations, signalling progress in Walmart US omnichannel.
Walmart US saw comp sales increase across all its categories in the low to mid-single digits, driven by strength in food and consumables, pharmacy and apparel. Walmart International posted comp sales growth in nine out of ten markets, including Mexico, China, Canada and the UK. Comp sales growth at Sam’s Club was broad-based across major categories despite seeing a negative impact of 250 basis points from tobacco.
The company revised its guidance for the full year of 2019 and now expects comp sales, excluding fuel, at Walmart US to grow at least 3% versus the previous guidance of about 3%.
GAAP EPS is now expected to come in the range of $2.26 to $2.36 versus the previous outlook of $2.65 to $2.80. Adjusted EPS is expected to be $4.75 to $4.85 versus the prior range of $4.65 to $4.80.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
ADBE Earnings: Adobe Q1 2024 revenue and profit beat estimates
Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in first-quarter 2024 revenue and earnings. The results also surpassed analysts' forecasts. First-quarter revenues came in at $5.18
Earnings Preview: FedEx (FDX) likely to report higher revenue and profit for Q3
FedEx Corporation (NYSE: FDX) delivered positive earnings performance and margin expansion in the first half of fiscal 2024, despite lower revenues. The cargo giant has been on a path of
Key takeaways from Dollar General’s (DG) Q4 2023 earnings report
Shares of Dollar General Corporation (NYSE: DG) fell over 4% on Thursday despite the company delivering better-than-expected earnings results for the fourth quarter of 2023. The top and bottom line numbers