Walmart (WMT) Misses Q1 EPS by 18c, Revenue Beats; Lowers Guidance
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Price: $60.21 --0%
EPS Growth %: -64.6%
Financial Fact:
Diluted net income per common share attributable to Walmart: 0.98
Today's EPS Names:
WF, CWBC, GLTO, More
EPS Growth %: -64.6%
Financial Fact:
Diluted net income per common share attributable to Walmart: 0.98
Today's EPS Names:
WF, CWBC, GLTO, More
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(Updated - May 17, 2022 7:01 AM EDT)
Walmart (NYSE: WMT) reported Q1 EPS of $1.30, $0.18 worse than the analyst estimate of $1.48. Revenue for the quarter came in at $141.6 billion versus the consensus estimate of $138.88 billion.
- Walmart U.S. grew comp sales1 3.0% and gained market share in grocery
Fiscal 2023 Q2 and full year guidance
The following guidance reflects the Company’s updated expectations for Q2 and fiscal year 2023 and is provided on a non-GAAP basis as the Company cannot predict certain elements which are included in reported GAAP results, including the effects of foreign exchange translation and the changes in fair value of the Company’s equity investments. Growth rates reflect an adjusted basis for prior year results. The company’s guidance assumes a generally stable consumer in the U.S., higher supply chain costs, continued pressure from inflation, and mix of products and formats globally.
| Metric | Guidance: Feb. 17, 2022 | Guidance: May 17, 2022 | ||||||
| Consolidated net sales | Increase about 3% in constant currency •Excluding divestitures3, increase about 4% | Increase about 4% in constant currency •Excluding divestitures3, increase 4.5% to 5% | ||||||
| Comp sales growth | •Walmart U.S., slightly above 3%, ex. fuel | •Walmart U.S., about 3.5%, ex. fuel | ||||||
| Consolidated operating income | Increase about 3% in constant currency •Excluding divestitures3, increase at a rate higher than net sales | Decrease about 1% in constant currency •Excluding divestitures3, flat versus last year | ||||||
| Effective tax rate | 25% to 26% | No change | ||||||
| EPS | Increase mid single-digits •Excluding divestitures3, increase 5% to 6% | Decrease about 1% •Excluding divestitures3, flat versus last year | ||||||
| Capital expenditures | Upper end of 2.5% to 3% of net sales with a focus on supply chain, automation, customer-facing initiatives and technology | No change | ||||||
Updated guidance for Q2
| Metric | Guidance: Feb. 17, 2022 | Guidance: May 17, 2022 | ||||||
| Consolidated net sales | Not provided | Increase over 5% | ||||||
| Comp sales growth | Not provided | Walmart U.S., increase 4% to 5%, ex. fuel | ||||||
| Consolidated operating income | Increase low to mid single-digits | Flat to up slightly | ||||||
| EPS | Increase low to mid single-digits | Flat to up slightly | ||||||
1 See additional information at the end of this release regarding non-GAAP financial measures.
2 $8.3 billion remaining of $20 billion authorization approved in February 2021. The company repurchased approximately 17 million shares in Q1 fiscal 2023.
3 We completed the sale of our operations in the U.K. and Japan in the first quarter of fiscal 2022.
For earnings history and earnings-related data on Walmart (WMT) click here.
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