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Shares of Wal-Mart Drop Premarket After Q1 Earnings Released

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Shares of Wal-Mart Drop Premarket After Q1 Earnings Released

Wal-Mart (NYSE: WMT) released Q1 earnings before the market open Thursday morning for the three months ending April 30th. The retail giant missed EPS and revenue estimates by 0.87 percent and 1.92 percent, respectively.

Net sales for Wal-Mart US rose by just 0.3 percent from the year prior, with net operating income rising 5.9 percent. Same store sales dropped by 1.4 percent.

Wal-Mart International outperformed the US segment on sales, but net operating income dropped considerably. Sales rose by 2.9 percent while operating income dropped by 4.7 percent.

Sales for the Sam’s Club segment rose by 0.1 percent with a 7.4 percent rise in operating income.

Looking forward to the second quarter, Wal-Mart expects an EPS between $1.22 and $1.27 as compared to $1.18 for the prior year. Currently, analyst consensus for Q2 is $1.29 according to Businessweek.

Shares closed at $79.86 yesterday, but are down more than two percent pre-market.

Posted-In: BusinessWeek Sam's ClubEarnings News Best of Benzinga

 

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