Walmart beats by $0.02, reports revs in-line; guides Q3 EPS below consensus, revs in-line; raises FY25 guidance; Q2 US comps 4.2% (68.66)
- Reports Q2 (Jul) earnings of $0.67 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.65; revenues rose 4.7% year/year to $169.3 bln vs the $168.56 bln FactSet Consensus.
- Consolidated gross margin rate up 43 bps, led by Walmart U.S. and Walmart International. Strong momentum in eCommerce with growth of 22%, led by store-fulfilled pickup & delivery.
- Walmart U.S. comp sales up 4.2%.
- Global inventory down 2.0%, including a decrease of 2.6% for Walmart U.S.; in-stock levels healthy.
- Co issues guidance for Q3, sees EPS of 0.51-0.52, excluding non-recurring items, vs. $0.55 FactSet Consensus; sees Q3 revs of +3.25-4.25% yr/yr to $166.03-167.64 bln vs. $167.05 bln FactSet Consensus.
- Co issues raised guidance for FY25, sees EPS of $2.35-2.43 from $2.23-2.37, excluding non-recurring items, vs. $2.44 FactSet Consensus; sees FY25 revs of +3.75-4.75% yr/yr from 3-4% to $672.43-678.91 bln vs. $676.53 bln FactSet Consensus.