Walmart Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Thursday, retail giant Walmart, Inc. (WMT) raised its adjusted earnings and net sales growth guidance for the full-year 2024. It also provided outlook for the third quarter.

For the third quarter, the company now expects adjusted earnings in a range of $1.45 to $1.50 per share on consolidated net sales growth of about 3 percent. Analysts expect earnings of $1.50 per share on revenues of $157.25 billion for the quarter.

Looking ahead to fiscal 2024, the company now projects adjusted earnings in a range of $6.36 to $6.46 per share, including an expected $0.05 impact from LIFO, on consolidated constant currency net sales growth of about 4.0 to 4.5 percent.

Previously, the company expected adjusted earnings in a range of $6.10 to $6.20 per share on consolidated constant currency net sales growth of about 3.5 percent.

The Street is looking for earnings of $6.28 per share on a revenue growth of 4.3 percent to $637.51 billion for the year.

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