Walmart earnings results are in – the stock is falling

Walmart Inc. (WMT) reported its latest financial results before the opening bell on Wall Street on Tuesday.

World’s largest supermarket chain reported revenue of $141.569 billion for the quarter (up 2.4% year-over-year) vs. $138.835 billion estimate.

Earnings per share reported at $1.30 per share, falling short of analyst forecast of $1.48 per share.

Doug McMillon President and CEO commented on the latest results: ”Across our businesses, we had a strong topline quarter. We’re grateful to our associates for their hard work and creativity. Bottomline results were unexpected and reflect the unusual environment. U.S. inflation levels, particularly in food and fuel, created more pressure on margin mix and operating costs than we expected. We’re adjusting and will balance the needs of our customers for value with the need to deliver profit growth for our future.”

Walmart Inc. chart

Share price of Walmart fell by around 8% at the open on Tuesday, trading at $135.46 per share.

Here is how the stock has performed in the past year:

• 1 Month -13.98%
• 3 Month +92%
• Year-to-date -6.28%
• 1 Year -4.44%

Walmart price targets

• Deutsche Bank: $181
• Morgan Stanley: $165
• Jefferies: $175
• DA Davidson: $171

Walmart is the 17^th largest company in the world and 14^th biggest in the United States with a market cap of $373.49 billion.

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Sources: Walmart Inc., TradingView, CompaniesMarketCap