Walmart (WMT) is set to report fourth quarter fiscal 2020 financial results on Feb 18th, before market open.
Walmart is an American multinational retail corporation that operates in the grocery store segment. As of October 31, 2019, Walmart has 11,438 stores and clubs in 27 countries, operating under 55 different names.
Third Quarter 2020 Financial Results
Walmart reported strong third quarter fiscal 2020 financial results. The company saw strong growth in online sales, up 41% in the quarter. Despite missing on sales estimates, Walmart has raised its annual EPS (Earnings Per Share) outlook for the fiscal 2020 year.
- Earnings per share: $1.16, adjusted, vs. $1.09 expected
- Revenue: $127.99 billion vs. $128.65 billion expected
- U.S. same-store sales: up 3.2% vs. growth of 3.1% expected
President & CEO Doug McMillon, said in a statement: “We’re pleased with our performance for the quarter. Our associates are responding to change in an inspiring way, and we’re proud of them. The Walmart U.S. business saw strong comp sales and expense leverage, and operating income grew for the sixth consecutive quarter”
What You Should Know
- Walmart U.S. comp sales increased on a two-year stacked basis by 6.6%. Market share gains were led by food and consumables, including fresh
- Walmart U.S. eCommerce sales grew by 41%, including strong growth in online grocery
- Walmart U.S. operating income increased 6.1%
- Walmart announced an exclusive partnership with SmileDirectClub (SDC) to offer a line of oral care products
Walmart’s robust business model is showing tremendous resilience as they set to report fourth quarter fiscal 2020 financial results. The retail giant saw expanding revenue growth in their e-commerce devision, despite rising competition from Amazon (AMZN). Furthermore, the company reported strong guidance for the fiscal 2020 year.
Zack’s Consensus Estimates
Zacks Consensus Estimate for Walmart’s fourth quarter earnings is $4.98 per share, implying a 1.4% increase year-over-year. The consensus mark for revenues is $525.5 billion.
Walmart Inc. (NYSE: WMT) is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. The company has 11,438 stores and clubs in 27 countries, operating under 55 different names. Walmart employs over 2.2 million associates worldwide and continues to be a leader in sustainability, corporate philanthropy and employment.