Walmart beats by $0.07, beats on revs; Q1 comps with fuel +3.8%; sees Q2 EPS/revs in line; sees FY25 EPS and revs at high end or slightly above prior guidance
- Reports Q1 (Apr) earnings of $0.60 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $0.53; revenues rose 6.0% year/year to $161.5 bln vs the $159.57 bln FactSet Consensus.
- Co reported Q1 total US comps without fuel of 3.9% versus 7.3% last year. Co reported Q1 total US comps with fuel of 3.8% versus 6.7% last year.
- Consolidated operating income up $0.6 billion, or 9.6%; adjusted operating income up 13.7% , due to higher gross margins and growth in membership income.
- Global eCommerce sales grew 21%, led by store-fulfilled pickup & delivery and marketplace.
- Global inventory down 2.7%, including a decrease of 4.2% for Walmart U.S.; in-stock levels healthy. Consolidated gross margin rate up 42bps due to improvements across segments, led by Walmart U.S..
- Consolidated operating income up $0.6 billion, or 9.6%; adjusted operating income up 13.7%1 , due to higher gross margins and growth in membership income.
- Co issues in-line guidance for Q2, sees EPS of $0.62-0.65, excluding non-recurring items, vs. $0.64 FactSet Consensus; sees Q2 revs of +3.5-4.5% yr/yr to $167.29-168.58 bln vs. $167.62 bln FactSet Consensus.
- Co issues in-line guidance for FY25, sees EPS of high end or slightly above $2.23-2.37, excluding non-recurring items, vs. $2.37 FactSet Consensus; sees FY25 revs of high end or slightly above 3-4% yr/yr to $667.6-67 vs. $674.18 bln FactSet Consensus.