Walmart Surpasses Earnings Expectations, Raises Annual Guidance, as Inflation Drives 'Value-Seeking' Customers

Benzinga
Benzinga
  • 2 weeks ago
Walmart beat earnings and revenue estimates for the quarter and raised its full-year sales and profit guidance. The company has outperformed the market this year as inflation boosted demand for low prices. Comparable sales rose at Walmart US and 5.2% at Sam's Club, indicating steady consumer spending despite high inflation. While results beat estimates, Walmart's third-quarter earnings guidance was slightly below analyst forecasts. The CEO said they see consumers as still "choiceful" and "value-seeking," but there is no further weakening in consumer health. Walmart stock rose in pre-market trading on the report.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Walmart beat earnings and revenue estimates for the quarter and raised its full year sales
00:07and profit guidance.
00:08The company has outperformed the market this year as inflation boosted demand for low prices.
00:13Comparable sales rose at Walmart U.S. and 5.2% at Sam's Club, pointing to steady consumer
00:18spending despite high inflation.
00:21While results beat estimates, Walmart's third quarter earnings guidance was slightly below
00:24analysts' forecasts.
00:26The CEO said they see consumers as still choiceful and value-seeking, but there is no further
00:31weakening in consumer health.
00:33Walmart's stock rose in pre-market trading on the report.

Recommended

0:39
I
Up next
Lululemon Misses Revenue Target for First Time in Two Years Amid Botched Launch. CEO Defends Brand's Strength
Benzinga
0:36
Ulta Beauty's Earnings Miss Expectations as Same-Store Sales Decline. CEO Dave Kimbell Attributes Defends Company's Engagement and Operations.
Benzinga
0:40
Dell Sees 9% Revenue Boost as AI-Optimized Server Sales Surge. AI Server Backlog Hits $3.8 Billion Amid Revenue Growth
Benzinga
0:42
Nvidia May Invest $100 Million in OpenAI, Joining Apple and Microsoft. Massive Funding Round Could Value the AI Startup at Over $1 Billion.
Benzinga
0:29
Former First Lady Melania Trump Opens Up About Emotional Journey of Writing Her Memoir as It Climbs up Amazon's Best Sellers List Ahead of Release Date
Benzinga
0:39
Target Beats Q2 Earnings Forecast, but Weak Sales Prompt Guidance Downgrade"
Benzinga
0:38
Walmart Surpasses $500 Billion Market Cap After Strong Q1 Results
Benzinga
0:30
Stock Prices Expected To Dampen
Benzinga
0:37
Target's Cautious Outlook and Macy's Sales Drop as Consumers Feel Stressed and Seek Out Value
Benzinga
0:43
Procter & Gamble Beats Q1 Earnings Estimates
Benzinga
0:45
Lowe's Q2 Earnings Surpass Expectations, But Sales Fall Short
Benzinga
0:43
Target Beats Earnings Expectations
Benzinga
0:29
Walmart Q3 Sales Rise
Benzinga
0:34
Walmart Beats Expectations with Strong Q1 Earnings, Driven by E-commerce Growth and Higher-Income Shoppers
Benzinga
1:45
Walmart warns of consumers being more cautious
The Street
0:34
Target Beat Q4 Estimates
Benzinga
0:35
Consumer Confidence Bounces Back in May After Three Months of Decline
Benzinga
0:37
Target Raises Profit Guidance After Q2 Growth, Credits New Merchandise and Loyalty Programs
Benzinga
0:44
Target, Walmart, and McDonald's Slash Prices to Tackle Soaring Inflation
Benzinga
0:37
Lowe's Beats Expectations, But Warns of Slower Sales Ahead
Benzinga
0:38
Former Walmart CEO Warns of Bubble as Inflation Drives High-Income Spenders to Grocery Giant
Benzinga
0:41
Walmart Gains Market Share with Digital Growth as Rival Target Faces Post-COVID Struggles, According to Zacks Equity Research
Benzinga
0:55
US Inflation Falls As Expected In April, Bolsters Fed Rate Cut Bets
Benzinga
0:43
Retailers to Slash Prices to Combat Inflation's Squeeze on Consumer Spending
Benzinga
0:48
Fed's Key Inflation Indicator Hits 2.8%, Dashes Rate Cut Hopes; Traders On Alert
Benzinga