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

Benzinga

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.

Category

Transcript

Comments

Recommended