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Walmart Inc. WMT came out with its first-quarter fiscal 2019 results, wherein adjusted earnings of $1.14 per share surpassed the Zacks Consensus Estimate of $1.12. Bottom-line also increased 14% year over year.
Management expects its fiscal 2019 earnings to be negatively impacted in the band of 25-30 cents owing to the company’s investment in Flipkart.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2019 has declined by 3 cents in the past seven days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 1.5%.
Revenues: During the quarter Walmart generated total revenue of $122.7 billion that grew 4.4% year over year and also came ahead of the Zacks Consensus Estimate of $120 billion. Walmart U.S. comparable sales (excluding fuel) rose 2.1%, while traffic jumped 0.8%.
Walmart Inc. Price, Consensus and EPS Surprise
Walmart Inc. Price, Consensus and EPS Surprise | Walmart Inc. Quote
Key Events: Walmart recently announced investments in Flipkart, while it also announced its intentions to combine Sainsbury and Asda businesses. Additionally, the company plans to divest its banking operations in Walmart Chile and Walmart Canada.
Zacks Rank: Currently, Walmart carries a Zacks Rank #4 (Sell), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Walmart’s earnings report!
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Walmart Inc. (WMT) : Free Stock Analysis Report
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