Walmart Stock ( NYSE:WMT )
Walmart stock ( NYSE:WMT ) took a significant hit on Tuesday despite the fact that the world’s largest retailer reported earnings for the fourth quarter that were better than analysts had anticipated. Despite this, Walmart issued a muted full-year profit forecast because it warned that consumers will continue to spend cautiously in a slowing economy.
Walmart reported that its adjusted earnings for the three months that ended in December came in at $1.71 per share, which is an increase of 11.8% compared to the same period last year and is significantly higher than the consensus estimate of $1.51 per share that was made by Wall Street analysts.
Walmart reported that its group revenues were estimated at $164.0 billion, which represents a 7.3% increase from the previous year and again beat the analysts’ estimates of $159.72 billion. The company reported that same-store sales in the United States increased by 8.3% compared to the previous year, easily beating the forecast of 5.8% made by Refinitiv.
Walmart stated that it anticipates adjusted earnings of between $1.25 and $1.30 per share during the retailer’s fiscal first quarter, which will end in April. Additionally, the company anticipates sales growth of between 4.5% and 5%. Walmart anticipates full-year sales will likely increase by 2.5% to 3% from 2022 levels, and the company’s earnings per share will likely fall somewhere between $5.90 and $6.05.
Investors Will Be Watching Retail Sector as Attention Turns to Walmart Earnings
Ahead of the opening bell, Walmart ( NYSE:WMT ) will report its earnings for the fourth quar...
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