The Strategist

Walmart more than triples quarterly net profit

05/17/2024 - 03:04

The biggest retailer in the United States, Walmart Inc., reported a 6% gain in revenue and a more than threefold increase in net income in its first quarter of fiscal 2019.

Mike Mozart
Mike Mozart
For the quarter that ended on April 30, Walmart reported net income of $5.1 billion, or $0.63 per share, as opposed to $1.67 billion, or $0.21 per share, for the same period the previous year.

FactSet's survey of analysts yielded a consensus estimate of $0.53 per share, but earnings excluding one-time items came in at $0.6 per share.

Walmart's revenue increased from $151 billion a year ago to $159.94 billion this quarter. For that amount, the average market projection was $159.6 billion.

Walmart's comparable sales in the United States climbed by 3.8% in the first fiscal quarter (compared to experts' forecasts of 3.5% growth), while Sam's Club, a small retail chain, had a 4.4% gain (compared to forecasts of 3.5% growth).

The business projects that its adjusted earnings for the second fiscal quarter will be between $0.62-0.65 per share, and for the entire fiscal year, it will be either slightly over or closer to the upper end of its previous guidance range of $2.23-2.37 per share.