Walmart Inc’s worse-than-expected earnings results left Jim Cramer stunned Tuesday morning.
What Happened
Walmart said first-quarter revenue increased 2.4 percent year-over-year to $141.6 billion, which beat the $138.88-billion estimate, according to data from Benzinga Pro. The company reported quarterly adjusted earnings of $1.30 per share, which missed the estimate of $1.48 per share.
Walmart also slashed its second-quarter earnings guidance from a low to mid single-digit range. The company now expects earnings to be “flat to up slightly.”
Related Link: Walmart: Q1 Earnings Insights
Why It Matters
If Walmart’s earnings are reflective of the real economy, the company’s results could be signaling trouble ahead, but Cramer says the poor results are tied to Walmart’s management….