- If its latest financial results are any indication, shoppers continue to visit Walmart (NYSE:WMT), as inflation continues to persist
- In its Q3 results, North America’s biggest retailer reported revenue for the quarter that reached US$169.6 billion, significantly higher than the projected US$167.67 billion
- However, Walmart noted that currency fluctuations negatively impacted the quarter by US$1.2 billion, highlighting the challenges posed by global economic conditions.
- Walmart stock (NYSE:WMT) last traded at US$84.08 per share
If its latest financial results are any indication, shoppers continue to visit Walmart (NYSE:WMT), as inflation continues to persist.
In its Q3 results, North America’s biggest retailer reported surpassed analysts’ expectations and raising its annual earnings outlook. The company reported adjusted earnings per share (EPS) of $0.58, exceeding the consensus estimate of $0.53.
Walmart’s revenue for the quarter reached US$169.6 billion, up 5.5 per cent from Q2 and higher than the projected US$167.67 billion. This growth was driven by robust comparable sales performance across its U.S. segments. Notably, Walmart-only U.S. store sales increased by 5.3 per cent, while Sam’s Club U.S. comparable sales surged by 7 per cent, both exceeding analysts’ forecasts.
Looking ahead, Walmart has raised its EPS outlook for fiscal 2025 to a range of US$2.42 to US$2.47, up from the previous estimate of US$2.35 to US$2.43, aligning with the consensus estimate of US$2.45. The company anticipates net sales growth of 4.8 per cent to 5.1 per cent and expects adjusted operating income, excluding currency fluctuations, to grow by 8.5 per cent to 9.25 per cent.
However, Walmart noted that currency fluctuations negatively impacted the quarter by US$1.2 billion, highlighting the challenges posed by global economic conditions.
Walmart Canada has more than 400 stores and distribution centres, employing more than 100,000 people in Canada.
Walmart stock (NYSE:WMT) last traded at US$84.08 per share and is up 60 per cent since the year began.
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