Wal-Mart ahead of annual meeting updates FY19 guidance to include Flipkart dilution, provides FY20 outlook (93.82)
- The company reiterates its FY19 total sales growth expectations and updates FY19 GAAP and adjusted EPS to include the expected 25 cents per share Flipkart dilution.
- Co now sees FY19 Adj-EPS $4.65-4.80 (Prior $4.90-5.05) vs $4.82 S&P Capital IQ Consensus Estimate
- FY20 Guidance:
- Walmart expects total FY20 sales growth to be 3 percent or greater, negatively affected by about 100 basis points due to the deconsolidation of the Brazil operations and planned reduction in tobacco sales at Sam's Club.
- Walmart U.S. comp sales growth is expected to be in a range of 2.5 percent to 3 percent and eCommerce net sales growth is expected to be around 35 percent for FY20.
- FY20 EPS is expected to decline by a low single digit percentage range versus FY19 adjusted EPS. Excluding Flipkart, EPS is expected to increase by a low to mid-single digit percentage range versus FY19 adjusted EPS.