Walmart (WMT) Tops Q1 EPS by 48c, Revenue Beats, Offers Guidance

May 18, 2021 7:00 AM EDT

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Walmart (NYSE: WMT) reported Q1 EPS of $1.69, $0.48 better than the analyst estimate of $1.21. Revenue for the quarter came in at $138.3 billion versus the consensus estimate of $131.95 billion.

  • Walmart U.S. Q1 comp sales1 grew 6.0%; 16.0% on a two-year stack
Fiscal 2022 Q2 and full-year guidance
The following guidance reflects the company’s updated expectations for fiscal year 2022 and is provided on a non-GAAP basis as the company cannot predict certain elements which are included in reported GAAP results, including the impact of foreign exchange translation and externally adjusted items. Prior year results are on an adjusted basis. The company’s updated guidance assumes COVID-19 conditions continue to improve as well as no significant additional government stimulus packages for the remainder of the year.
MetricPrior FY22 GuidanceUpdated FY22 Guidance
Consolidated net sales
Decline in constant currency
Excluding divestitures1, consolidated net sales growth up low single-digits
Decline low single-digits in constant currency
Excluding divestitures1, consolidated net sales growth up low-to-mid single-digits
Comp sales growth
Walmart U.S., up low single-digits, ex. fuel
Sam’s Club, up low single-digits, ex. fuel and tobacco
No change
Walmart International net sales
Decline in constant currency
Higher growth percentage than U.S., excluding divestitures1
Decline 20-25% in constant currency due to divestitures1
Increase mid single-digits, excluding divestitures1
Consolidated expense leverageMaintain rate, or slightly deleverageMaintain rate, or slightly leverage
Consolidated operating income
Decline slightly in constant currency
Flat to up slightly, excluding divestitures1
Increase mid single-digits in constant currency
Increase high single-digits, excluding divestitures1 in constant currency
Walmart U.S. operating incomeIncrease slightlyIncrease high single-digits
Effective tax rate24.5% to 25.5%No change
Decline slightly
Flat to up slightly, excluding divestitures1
Increase high single-digits
Increase low double-digits, excluding divestitures1
Capital expendituresAround $14 billion with a focus on supply chain, automation, customer-facing initiatives and technologyNo change
MetricPrior Q2 FY22 GuidanceUpdated Q2 FY22 Guidance
Comp sales growthN/AWalmart U.S., up low single-digits, excluding fuel
Consolidated operating incomeDecline mid-to-high single-digits
Decline low-to-mid single-digits
Up slightly, excluding divestitures1
EPSDecline mid-to-high single-digits
Decline low single-digits
Up low single-digits, excluding divestitures1

For earnings history and earnings-related data on Walmart (WMT) click here.

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