Walmart Inc. reported impressive second-quarter earnings growth and reiterated its full-year guidance.
On Tuesday, Walmart reported second-quarter adjusted EPS of $1.77 on revenue of $152.8 billion. Both numbers exceeded consensus analyst estimates of $1.62 and $150.8 billion, respectively. Revenue was up 8 percent from a year ago.
Walmart reported 6.5 percent U.S. same-store sales growth, excluding fuel, beating analyst expectations of 5.9 percent growth. Walmart’s e-commerce sales were up 12 percent.
Looking ahead, Walmart reiterated its previous guidance for full-year U.S. same-store sales growth of 4 percent and a full-year EPS decline of between 9 percent and 11 percent.
Bullish Momentum
Credit Suisse analyst Robert Moscow said Walmart management’s commentary that conditions improved in the last two weeks of the quarter bodes well for the second half of 2022….