Wal-Mart Stores Beats
Wal-Mart Stores (WMT) reported 2nd Quarter July 2016 earnings of $1.07 per share on revenue of $120.9 billion. The consensus earnings estimate was $1.02 per share on revenue of $120.1 billion. The Earnings Whisper number was $1.05 per share. Revenue grew 0.5% on a year-over-year basis.
The company said it expects third quarter earnings of $0.90 to $1.00 per share and fiscal year earnings of $4.15 to $4.35 per share. The company's previous guidance was for fiscal year earnings of $4.00 to $4.30 per share. The current consensus earnings estimate is $0.94 per share for the quarter ending October 31, 2016 and $4.28 per share for the year ending January 31, 2017.
Wal-Mart Stores Inc, operates retail stores in various formats under various banners. Its operations comprise of three reportable business segments, Walmart U.S., Walmart International and Sam' Club in three categories retail, wholesale and others.
Walmart reports Q2 FY17 EPS of $1.21, adjusted EPS of $1.07, Raises full-year adjusted EPS guidance range to $4.15 to $4.35
"We're pleased with the
positive momentum in our
business. Our strategy in the
U.S. is working as we delivered
an eighth consecutive quarter
of positive comps, and
international also performed
well. We remain focused on
capabilities globally and
executing our omni-channel
plan, as evidenced by our
recent alliance with JD.com in
China and agreement to acquire
Jet.com in the U.S. Walmart is
uniquely positioned to provide
customers with a seamless
shopping experience where we
save them time and money."
Doug McMillon, President and
CEO, Wal-Mart Stores, Inc.
- Diluted EPS was $1.21. Currency negatively impacted EPS by
- Adjusted EPS
of $1.07 excludes a non-cash gain of $0.14, net
of tax, from the sale of Yihaodian in China.
- Total revenue was $120.9 billion, an increase of 0.5%. On a
constant currency basis1
, total revenue was $123.6 billion, an
increase of 2.8%.
- Walmart U.S. delivered positive comp sales for the eighth
consecutive quarter, up 1.6%, driven by the seventh
consecutive quarter of positive traffic, up 1.2%. Neighborhood
Market comp sales increased approximately 6.5%.
- Net sales at Walmart International were $28.6 billion.
Excluding currency impacts, net sales were $31.3 billion, an
increase of 2.2%.
- Globally, on a constant currency basis, e-commerce sales and
GMV increased 11.8% and 13.0%, respectively, representing an
acceleration from the first quarter.
- Consolidated operating income increased 1.6%, including a gain
of $535 million from the sale of Yihaodian. Excluding this gain,
consolidated operating income declined 7.2%. As expected,
investments in people and technology, as well as currency
exchange rate fluctuations negatively impacted results.
- Year to date operating cash flow was $14.9 billion and free cash flow
was $10.3 billion, both
approximately $5.0 billion higher than last year primarily due to improved working capital
management, including significant inventory improvement, and timing of payments.
- The company now estimates fiscal year 2017 adjusted EPS1
of $4.15 to $4.35, or GAAP EPS of $4.29 to
$4.49, both of which include an estimated dilutive impact to EPS of approximately $0.05, primarily in
the fourth quarter, as a result of expected operating losses and one-time transaction expenses related
to the planned acquisition of Jet.com. The adjusted EPS guidance excludes the non-cash gain of $0.14,
net of tax, from the sale of Yihaodian.
For the full press release, please go here.