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Walmart reports the highest quarterly revenue ever

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Miguel A. Rodriguez
Miguel A. Rodriguez
17 August 2021
One of the largest retailers in the US reported earnings for fiscal Q2 2022

The retail giant – Walmart – topped Wall Street’s expectations as its grocery business started to recover ground with its strong start in back-to-school sales. For the fiscal Q2 ended July 31, the company reported an adjusted EPS of $1.78, topping the $1.57 consensus. Revenues also came ahead of estimates, at $141.05 billion, marking a 2.4% increase from the figures reported a year prior.

Brett Biggs, Walmart CFO, stated that customers mainly shopped for luggage, party supplies, and apparel. At the same time, families focused on backpacks and items for the classroom. 

Walmart reported its highest quarterly revenue ever for three months outside of the holiday season. The same-store sales in the US grew 5.2%, significantly higher than the 3.3% expected. According to Walmart, over the past two years, the same-store sales increased 14.5%.

For the future, Walmart is looking for the EPS to reach a high of $6.35, while the US same-store sales to increase 6%.

Since the beginning of the year, Walmart shares gained 5%, while USA500 added 33%.

 

Source: cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.