Walmart Earnings Top Expectations

May 16, 2019

Walmart reported earnings per share of $1.13, adjusted with only $1.02 expected. Total revenue was $123.9 billion, an increase of $1.2 billion, or 1.0%. But, $125.03 billion in revenue was expected.


Doug McMillon, President and CEO of Walmart said, "We're changing to enable more innovation, speed and productivity, and we're seeing it in our results. We're especially pleased with the combination of comparable sales growth from stores and eCommerce in the U.S. Our team is demonstrating an ability to serve customers today while building new capabilities for the future, and I want to thank them for a strong start to the year."

Walmart U.S. comp sales of 3.4% marks the best Q1 comp in 9 years and is the fourth consecutive quarter
above 3%.

Operating income was better than expected, up 5.5%. Walmart U.S. eCommerce sales growth of 37%
reflects strong growth in online grocery, as well as the Home and Fashion categories on

Sam's Club comp sales increased 0.3%, and eCommerce sales grew about 28%. Reduced tobacco sales negatively affected comp sales by 270 basis points.

Net sales at Walmart International were $28.8 billion, a decline of 4.9%. Excluding currency, net sales were
$30.6 billion, an increase of 1.2%.

Operating income declined 4.1%, or 3.0% in constant currency, which was better than planned as strong
results from Walmart U.S. and Sam's Club were offset by the inclusion of Flipkart this year.

Adjusted EPS excludes an unrealized gain, net of tax, of $0.20 on the company's equity investment in

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