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HomeBusinessWalmart quarter exceeds expectations, CWEB reports, retailer raises outlook, shares rise 7...

Walmart quarter exceeds expectations, CWEB reports, retailer raises outlook, shares rise 7 percent

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Walmart (WMT), the nation’s largest retailer, posted solid results in the second quarter and beat analysts’ expectations in sales and earnings. The giant retailer also raised its full-year outlook. The market responded positively to the second quarter report, and shares rose by almost 7 percent in morning trading. CWEB had predicted a good quarter for the retail giant, whose earnings and sales reflect economic trends in the nation. The big box retailer showed its resilience by beating Wall Street expectations.

Walmart reported sales growth of 4.8 percent and revenue of $169.34 billion in the second quarter, while analysts polled by Bloomberg expected revenue of $168.46 billion in Q2. Adjusted earnings were also higher, with an increase of 9.8 percent year over year, which was reported as $0.67 per share, while the estimate was $0.65 per share.

Walmart has also raised its future outlook and says that fiscal 2025 sales are expected to grow between 3.75 percent and 4.75 percent, while the earlier forecast was 3 percent to 4 percent. The adjusted earnings per share now stand between $2.35 and $2.43, while the earlier EPS was $2.23 to $2.37.

Walmart‘s namesake business has seen a 4.2 percent increase in same-store sales, while Sam’s Club saw a 5.2 percent rise. Groceries always see the highest growth and account for 60 percent of its sales in the US. According to senior executives, its private brand has also seen accelerated growth. Back-to-school sales are beginning to grow, which is considered a good indicator of performance during the holiday season.

On an earnings call, CEO Doug McMillon said that low-income shoppers continued to focus on price points while higher-income shoppers have started buying discretionary items online. These shoppers are often Walmart Plus subscription customers who are looking for convenience.

CWEB has always considered Walmart a high-performing stock, continues to consider the stock bullish, and recommends Buy or Hold.

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