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Oct 31, 2023
Walmart Q3 2024 Earnings Report
Reported strong revenue growth with strength across segments and raised FY24 sales and Adjusted EPS guidance.
Key Takeaways
Walmart's Q3 2024 results showed strong revenue growth of 5.2%, driven by solid performance across all segments. eCommerce sales increased by 15% globally. The company raised its FY24 sales and Adjusted EPS guidance.
Consolidated revenue increased by 5.2% to $160.8 billion.
Walmart U.S. comp sales grew by 4.9%, with eCommerce up 24%.
Adjusted EPS was $1.53, excluding the effects of net losses on equity and other investments.
The company raised its net sales guidance for FY24 to 5.0% to 5.5% and adjusted EPS guidance to $6.40 to $6.48.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Walmart raised its net sales guidance for FY24 to 5.0% to 5.5% and adjusted EPS guidance to $6.40 to $6.48.
Positive Outlook
- Consolidated net sales (cc) to increase approximately 5.0% to 5.5%.
- Consolidated operating income (cc) to increase approximately 7.0% to 7.5%, including expected 70bps tailwind from LIFO.
- Effective tax rate unchanged at approximately 26.5%.
- Capital expenditures unchanged from prior guidance at flat to up slightly vs. LY.
Challenges Ahead
- Interest, net to increase approximately $300M vs. LY.
- Non-controlling interest approximately $0.27 headwind to EPS vs. LY.
- Adjusted EPS includes expected $0.03 headwind from current year LIFO charges.
- Guidance assumes a generally stable consumer.
- Guidance assumes continued pressure from its mix of products and formats globally.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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