Walmart (NYSE:WMT) shares rose over 4% in premarket trading Tuesday after the retail giant hiked its annual earnings outlook and reported better-than-expected Q3 results.
The third quarter adjusted earnings per share (EPS) came in at $0.58, topping consensus expectations of $0.53.
Walmart’s revenue for the quarter rose to $169.6 billion, also above the $167.67 billion estimated by analysts.
Comparable sales performance in the US, excluding fuel, was strong across segments. Total (EPA:TTEF) US comparable sales rose 5.5%, exceeding the expected 3.8%.
Walmart-only US store sales increased by 5.3%, ahead of the 3.73% estimate, while Sam’s Club US comparable sales grew 7%, topping the 4.22% projection.
“We had a strong quarter, continuing our momentum,” said Doug McMillon President and CEO of Walmart.
“In the US, in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that. Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart.”
For fiscal 2025, Walmart raised its EPS outlook to $2.42-$2.47 from the previous range of $2.35-$2.43, aligning with the consensus estimate of $2.45.
The company now anticipates net sales growth of 4.8% to 5.1% and expects adjusted operating income, excluding currency fluctuations, to grow by 8.5% to 9.25%.
Walmart said currency fluctuations had a $1.2 billion negative impact on the quarter.
This content was originally published on Investing.com
