Wal-Mart Stores Inc (NYSE:WMT) early Thursday posted much better than expected third quarter earnings results and lifted its full-year outlook.
The Bentonville, AR-based retail giant reported Q3 earnings per share (EPS) of $1.00, which was $0.03 better than the Wall Street consensus estimate of $0.97.
Revenues rose 4.2% from last year to $122.14 billion, also beating analysts’ view for $120.23 billion.
Walmart U.S. comparable sales (comps) gained 2.7%, ahead of the company’s guidance of +1.5% to +2.0% guidance. That gain was helped by 1.5% higher traffic and 1.2% higher average ticket price. Sam’s Club comps jumped 2.8% versus guidance of just +1.0% to +1.5%.
Looking ahead, WMY forecast full-year EPS of $4.38 to $4.46, up from a prior range of $4.30 to $4.40, and ahead of the $4.38 per share analysts are looking for.
The company commented via press release:
“We are pleased with the strong results in the quarter across each of our business segments, and I want to thank our associates for their commitment and great work to make it happen. We have momentum, and it’s encouraging to see customers responding to our store and eCommerce initiatives. We are leveraging our unique assets to save customers time and money and serve them in ways that are easy, fast, friendly and fun.”
Wal-Mart Stores Inc shares rose $2.46 (+2.74%) in premarket trading Thursday following the report. Year-to-date, WMT has gained 32.62%, versus a 16.36% rise in the benchmark S&P 500 index during the same period.
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