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How Did Walmart Perform in Q1?
Walmart shares fell to a 52-week low on Tuesday after the company reported disappointing results and offered soft guidance.
The retailer reported Q1 adjusted earnings per share (EPS) of $1.30, missing the consensus estimates of $1.48 per share. Revenue came in at $141.57 billion in the quarter, up from $138.31 billion in the same period last year and above the analyst estimates of $138.94 billion.
Q1 net income stood at $2.05 billion, or 74 cents per share, down from $2.73 billion, or 97 cents per share in the same period last year.
Walmart’s U.S. same-store sales rose 3% from the same period last year, and 9% on a two-year basis. E-commerce sales climbed 1% and 38% on a one-year and two-year basis, respectively. Same-store sales at Sam’s Club advanced by 10.2% from a year ago, and by 17.4% from two years ago.
On "Black Monday" -- October 19, 1987 -- shares of retail giant Target (NYSE: TGT) suffered their steepest one-day decline ever, falling 32.8% in a single day . So at least "Black Wednesday 2022" wasn't quite that bad for Target.
It was, however, more than bad enough. After reporting its fiscal Q1 2023 earnings Wednesday, Target shares tumbled 26% in just the first 15 minutes of trading -- just one day after a smaller earnings miss sent its much larger rival, Walmart (NYSE: WMT), spinning into a near-12% loss.
Expected to report a $3.06 per share profit, Target reported just $2.19 per share, pro forma, on Wednesday. Target did "beat" on sales, reporting $25.2 billion in revenue.
And the market was down again today. Biden's economy is killing us!
Walmart Sees Worst One-Day Drop Since 1987. Rising Prices Lowering Margins | Investing.com
Stocks Analysis by The Tokenist (Shane Neagle) covering: Amazon.com Inc, Walmart Inc, Target Corporation. Read The Tokenist (Shane Neagle)'s latest article on Investing.comwww.investing.com
Frankly, cry me a river . . .
Interesting. I would have expected Walmart to be a countercyclical company
as per usual, it is the little people, t hose who are not filthy rich who sufferLol!! Doesn't effect you I guess.
Ohhhh this is SOOO alarming. Walmart is losing it's rear. Oh how will we ever move forward.
And the market was down again today. Biden's economy is killing us!
Walmart Sees Worst One-Day Drop Since 1987. Rising Prices Lowering Margins | Investing.com
Stocks Analysis by The Tokenist (Shane Neagle) covering: Amazon.com Inc, Walmart Inc, Target Corporation. Read The Tokenist (Shane Neagle)'s latest article on Investing.comwww.investing.com
Ohhhh this is SOOO alarming. Walmart is losing it's rear. Oh how will we ever move forward.
1000s of people work and are invested in WalMart and other companies…that are all losing their teeth because of xiden’s horrible economyOhhhh this is SOOO alarming. Walmart is losing it's rear. Oh how will we ever move forward.
