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IPFS News Link • Business/ Commerce

Walmart Soars To Record High After Beating Estimates, Guiding Higher As Consumers...

•, by Tyler Durden

WMT stock surged in premarket trading after the company not only reported Q1 earnings that blew away expectations, but guided even higher than consensus, and now expects the full year to be slightly better than planned as the big-box retailer attracts price-conscious consumers looking for essentials and discounts.  

In the quarter ended April 26, Walmart sales rose 3.8%, higher than what Wall Street was anticipating. With inflation easing, the average ticket was flat but the number of transactions rose by 3.8% from a year ago. E-commerce was a big driver, jumping 22% during the same period, as well as upper-income households that the retailer said drove the bulk of its gains.

Revenue $161.51 billion, +6% y/y, beating the estimate $159.58 billion, driven by ha higher number of transactions even as average tickets were unchanged.

Walmart-only US comparable transactions +3.8%, estimate +3.17%

Walmart-only US comparable ticket 0%, estimate +1.32% (2 estimates)

Adjusted EPS 60c, beating estimate 53c (and excludes a net gain of $0.05 on equity and other investments and business reorganization charges of $0.02).

Total US comp sales ex-gas +3.9%, beating estimate +3.42%

Walmart-only US stores comparable sales ex-gas +3.8%, beating the estimate +3.45%

Sam's Club US comparable sales ex-gas +4.4%, beating the estimate +3.33%

The company said that "globally, eCommerce penetration is higher across all markets led by store-fulfilled pickup & delivery and marketplace"