Walmart tops expectations for Q2 – the stock is up

Walmart Inc. (WMT) announced its Q2 financial results before the market open on Wall Street on Tuesday.

World’s largest supermarket chain reported results that exceeded analyst expectations, sending the stock price higher.

The company reported revenue of $152.859 billion (up by 8.4% year-over-year) vs. $150.994 billion expected.

Earnings per share reported at $1.77 per share for the quarter vs. $1.62 per share estimate.

Doug McMillon, President and CEO of Walmart commented on the latest results: ”We’re pleased to see more customers choosing Walmart during this inflationary period, and we’re working hard to support them as they prioritize their spending. The actions we’ve taken to improve inventory levels in the U.S., along with a heavier mix of sales in grocery put pressure on profit margin for Q2 and our outlook for the year. We made good progress throughout the quarter operationally to improve costs in our supply chain, and that work is ongoing. We continue to build on our strategy to expand our digital businesses, including the continued strength we see in our international markets.”

Walmart Inc. (WMT) chart

 

 

 

The stock was up by over 6% on Tuesday, trading at $140.233 a share.

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

• 1 Month +8.62%
• 3 Month +7.14%
• Year-to-date -2.74%
• 1 Year -6.62%

Walmart price targets

• Deutsche Bank $142
• Raymond James $140
• BMO Capital $160
• Cowen & Co. $150
• Morgan Stanley $145
• UBS $152
• Credit Suisse $133
• Wells Fargo $130

Walmart is the 14^th largest company in the world with a market cap of $383.98 billion.

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Sources: Walmart Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap