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What will Walmart's U.S. comparable sales growth for Q3 2024 be?
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Walmart's official Q3 2024 earnings report
Story
Walmart Surpasses Q2 Expectations, Raises FY25 Guidance Amid Stock Surge and eCommerce Growth
Aug 15, 2024, 11:15 AM
Walmart reported strong second-quarter earnings for fiscal year 2024, surpassing Wall Street expectations. The company achieved an adjusted earnings per share (EPS) of $0.67, exceeding the estimated $0.65, and reported revenue of $169.34 billion, above the expected $168.46 billion, marking a 4.8% year-over-year increase. Walmart's eCommerce sales grew by 22%, driven by a 50% increase in store-fulfilled delivery and significant growth in its advertising business. The retailer raised its full-year 2025 guidance, projecting adjusted EPS between $2.35 and $2.43, although slightly below the estimate of $2.45. Walmart also anticipates net sales growth of 3.75% to 4.75% for the fiscal year. The company's performance was bolstered by strong transaction counts and unit volumes across both physical stores and eCommerce channels, reflecting stable consumer health. Walmart's stock surged to record highs in pre-market trading. For the third quarter, Walmart expects adjusted EPS between $0.51 and $0.52. The gross margin rate improved, led by Walmart U.S. and Walmart International, and U.S. comparable sales increased by 4.3% excluding fuel.
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