Q1 Earnings Beat: America’s Largest Retailer Walmart (WMT) “Makes Money. Does Better.”
Today giant retailer Walmart Inc. (WMT), announced its Q1 financial results that beat estimates on EPS $0.60 vs FactSet $0.53 and revenue $161.5B vs $159.6B. FY guidance was increased slightly above its original guidance coming in at the high end for EPS and net sales growth.
The “Save Money. Live Better.” company cited consistent spending across consumers with more growth seen from the high-end consumer segment while its delivery business now outperforming its pick-up business in size with a strong run rate. Consumer behavior is showing an increased focus on value and convenience with its e-commerce segment experiencing growth as global e-commerce sales improved by 21%. Although Walmart is the largest US employer the company also mentioned their intention to cut hundreds of jobs.
As the company progresses forward, it looks to enhance its omnichannel strategy by further integrating physical stores with digital platforms for a seamless shopping experience which is also driving digital innovation and continued investment in technology.
Walmart CEO Doug McMillon said, “The momentum we see across the business is driven by growth in units sold and transaction counts as well as market share gains, including in general merchandise. These are not inflation-driven results.”
