Walmart (NYSE:WMT) has raised its annual forecast for adjusted earnings per share (EPS) and net sales. The world’s largest retailer exceeded expectations by reporting better-than-expected second-quarter profits.
Walmart posted Q2 EPS of $1.84, above the Street estimate of $1.69. Revenue came in at $161.6 billion, beating the Street estimate of $159.76 billion.
The company anticipates a full-year adjusted EPS in the range of $6.36 to $6.46, a substantial increase from its previous projection of $6.10 to $6.20. This new figure outperformed the Street estimate of $6.28.
The company estimates growth of approximately 4% to 4.5% in net sales for Walmart’s 2024 fiscal year. This forecast is an improvement from the company’s previous outlook of around 3.5%.
