A quick look at what WMT reported for Q3, which saw beats across virtually every category: Revenue $152.81 billion, +8.7% y/y, beating estimates of $147.88 billion Adjusted EPS $1.50, beating estimates of $1.32 (excludes $1.05/Shr from opioid settlements) Total US comparable sales ex-gas +8.5% Walmart-only US stores comparable sales ex-gas +8.2%, beating estimates of +3.46% Sam’s Club US comparable sales ex-gas +10%, beating estimates of +7.03% 2-year same store sales stack +17.4%, beating estimates of +13% Walmart-only US comparable ticket +6%, beating estimates of +2.5% Walmart-only US comparable transactions +2.1% Change in US E-Commerce sales +16%, estimate +1.05% Digging into the details of Walmart’s sparkling comparable sales number, The average ticket was up 6% in the third quarter — no big surprise at a time of high inflation.
Sales of food and other essentials that fill much of Walmart’s shelf space have proved resilient, even as shoppers cut back on discretionary spending amid decades-high inflation.
Some more details on the quarter: 3Q Intl Net Sales Hit by $1.5B FX Headwinds US 3Q Inventory Increase Relates to Inflation Raises Year Outlook on Strong Results for Q3 New York AG Secured a $3.1B Settlement From Walmart to Combat Opioid Crisis The Quarter Included $3.3 Billion Related to Opioid Settlements Walmart also showed improved inventory positioning vs prior quarters, and reported that 3Q inventory increased 12.4% Y/Y, a sharp improvement from the 25.6% Y/Y at the end of Q2.
Looking ahead, the company’s 2023 forecast was also solid, if a little weaker at the Q4 point: The company said it expects fiscal 2023 adjusted earnings per share to fall 6% to 7%, compared to its previous forecast of a 9% to 11% decline.
The company said last quarter that it was getting more business from higher-income customers, and that seems to be continuing.
The post Walmart Surges After Beating Expectations, Boosts Forecast, Unveils New $20BN Buyback (Confiscation) appeared first on NWO Stop.
This content is courtesy of, and owned and copyrighted by, https://nwostop.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.