Walmart Q2 2024 Earnings: A Comprehensive Guide
Earnings Date: Aug. 15, 2024
Key Highlights
* **Earnings per share (EPS):** $1.52 (vs. $1.44 estimated) * **Revenue:** $152.87 billion (vs. $151 billion estimated) * **Comparable sales (comps):** 3% growth in the U.S. and 4% growth globally
Financial Performance
Walmart reported strong financial performance in Q2 2024, with revenue and comps exceeding expectations. The company's net income increased by 2.4% to $4.5 billion, or $1.52 per share. This was driven by strong growth in its e-commerce and international businesses.
Revenue
* Total revenue increased by 7.3% to $152.87 billion, driven by growth in all segments. * U.S. comps increased by 3%, driven by grocery and consumer staples. * E-commerce sales grew by 12%, continuing the trend of strong online growth.
Earnings
* Net income increased by 2.4% to $4.5 billion, or $1.52 per share. * EPS exceeded analyst estimates of $1.44 per share.
Outlook
Walmart raised its guidance for the full year 2024, citing strong demand and cost-cutting measures. The company expects net sales to grow by 5-6% and EPS to grow by 5-6.5%.
Sales Growth
* Walmart expects net sales to grow by 5-6% for the full year 2024. * This growth will be driven by continued strength in U.S. comps and e-commerce.
Earnings Growth
* Walmart expects EPS to grow by 5-6.5% for the full year 2024. * This growth will be driven by cost-cutting measures and share buybacks.
Key Takeaways
* **Solid Financial Performance:** Walmart reported strong revenue and earnings growth in Q2 2024, driven by e-commerce and international growth. * **Raised Guidance:** The company raised its guidance for the full year 2024, citing strong demand and cost-cutting measures. * **Focus on Customers:** Walmart continues to invest in its customers through omnichannel initiatives and low prices.
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