Key Points from Wal-Mart (WMT) Q2 Results

August 15, 2013 10:41 AM EDT Send to a Friend
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Price: $76.02 +1.17%

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    7 Buy, 16 Hold, 4 Sell

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On Thursday Wal-Mart (NYSE: WMT) reported Q2 adjusted EPS of $1.25, in-line with the analyst estimate of $1.25. Revenue for the quarter came in at $116.2 billion versus the consensus estimate of $118.57 billion. Walmart U.S. comps were down 0.3% vs. guidance of flat to up 2%.

Commenting on the results, analyst Matt Nemer of Wells Fargo noted U.S. grocery comps decelerated after many quarters of positive comps, but was the only category to decelerate. He also pointed out that categories that saw acceleration from Q1 to Q2 included health and wellness, home, and apparel.

"Electronics and entertainment delivered similar growth in Q2 vs. Q1," said Nemer. "Countries that saw a deceleration from Q1 to Q2 included: UK, Canada, Mexico, South Africa, Japan and Brazil. China was the only country that saw improvement from Q1 to Q2. eCommerce sales were up over 30% y/y vs. the market at ~16% for Q2. The company noted it has doubled the number of products on walmart.com in H1 2013 and plans to double it again in H2 2013."

Wells Fargo has a Market Perform rating on Wal-Mart

For an analyst ratings summary and ratings history on Wal-Mart (NYSE: WMT) click here. For more ratings news on Wal-Mart click here.

Shares of Wal-Mart closed at $76.40 yesterday.


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