Walmart Inc (NYSE: WMT) is having an overwhelmingly strong start to the trading session in the pre-market hours after the company reported its financial results. With same store sales growing more in the quarter than the last decade, excited investors are sending the stock screaming for the top. Today, we’ll talk about:
- The financial results;
- what we’re seeing from WMT; and
- what we’ll be watching for ahead.
WMT Climbs On Financial Results
As mentioned above, Walmart is having an incredibly strong start to the trading session this morning after the comapny announced its financial results for the second quarter. Here’s what we saw from the report:
- Earnings – In terms of earnings, WMT produced a loss of $861 million, which works out to about $0.29 per share. Adjusted earnings per share came in at a total of $1.29. Analysts expected that the company would generate earnings in the amount of $1.22 per share.
- Revenue – Revenue also proved to be a big hit. During the quarter, the company generated $128 billion. Analysts expected that the company would generate revenue in the amount of $126 billion.
- Same Store Sales – While earnings and revenue were positive, the big hit on the report proved to be same store sales. During the quarter, same store sales jumped by 4.5%. That figure saw the strongest growth during the quarter that the company has seen in the last 10 years. Analyts expected that same store sales would rise by only 4%.
- Guidance – Finally, the company is expecting 2019 sales to increase by 2%. The company previously guided for an increase of between 1.5% and 2%. Also, same store sales are expected to see growth in the amount of 3%, comparing well to previous guidance of 2%. Adjusted EPS is expected to come in between $4.90 and $5.05. Once again, this figure is up. Previous guidance suggested full year earnings would come in between $4.75 and $5.00.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of Walmart, the news proved to be overwhelmingly positive. With such a smash hit quarter, it only makes sense that excited investors are pushing the stock on a run for the top this morning. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:30), WMT is trading at $100.10 per share after a gain of $9.88 per share or 10.95% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on WMT. In particular, we’re interested in following the story surrounding the company’s continued growth in sales, revenue and earnings as it continues to wage war against Amazon. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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