Cato: Fiscal Q1 Earnings Snapshot
E-commerce and advertising growth helped offset weaker guidance as higher fuel costs and inflation pressure consumer spending.
- On Thursday, Walmart Inc. reported fiscal first-quarter revenue of $177.8 billion, a 7.3% increase, with same-store U.S. sales growing 4.1%, surpassing Wall Street expectations.
- Inflation hit 3.8% in April, its highest level in three years, as the Iran war drives up prices for essentials; regular gas averaged $4.56 nationwide on Thursday, according to AAA.
- The company's top line was buoyed by e-commerce growth of 26% and advertising business expansion of 37%, with higher-income households driving an outsized share of consumer spending.
- Walmart Chief Financial Officer John David Rainey warned consumers will feel more pressure from fuel costs as tax refunds dwindle, and the company issued guidance for the current quarter that fell short of expectations.
- While Amazon recently overtook Walmart as the largest global company by revenue, the retailer excludes potential IEEPA tariff refunds from its current forecasts despite Supreme Court rulings favoring major companies.
22 Articles
22 Articles
These Analysts Cut Their Forecasts On Walmart After Q1 Results - Walmart (NASDAQ:WMT)
Walmart Inc. (NASDAQ:WMT) on Thursday reported first-quarter results that topped revenue estimates but reaffirmed full-year guidance below Wall Street expectations. Adjusted earnings came in at 66 cents per share, matching analyst estimates. Revenue increased 7.3% year over year, or 5.9% in constant currency, to $177.8 billion, ahead of consensus estimates of $175.0 billion. Looking ahead, Walmart forecast second-quarter adjusted earnings of 72 …
Walmart (NYSE: WMT) Posts Strong Sales But Fuel Costs Bite as Consumer Pressure Mounts
Walmart (NYSE: WMT) reported a solid first quarter but fell more than 7 percent on the day after issuing guidance that fell short of expectations and flagging fuel costs as a growing drag. Revenue rose 7.3 percent to $177.8 billion, with US same-store sales up 4.1 percent, driven by ecommerce growth and membership fee income. Higher-income households are driving a disproportionate share of the gains, while lower-income consumers are struggling t…
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