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Walmart Q1 earnings miss estimates as inflation weigh on profits

Walmart (WMT) reported mixed quarterly results on Tuesday, with earnings falling short of forecasts as rising costs for food, fuel and wages weighed on profitability even as still-solid consumer spending helped buoy sales. Shares declined by more than 6% in pre-market trading.

Here are the main metrics from Walmart's first-quarter earnings report, compared to consensus estimates compiled by Bloomberg:

• Revenue: $141.57 billion vs. $139.09 billion expected, $138.31 billion Y/Y
• Adjusted earnings per share: $1.30 vs. $1.48 expected $1.69 Y/Y
• Total U.S. comparable sales, excluding gas: +4% vs. +2.26% expected, +6.2% Y/Y

Walmart, the largest retailer in the U.S., had seen sales growth decelerate from a peak rate during the height of the pandemic domestically when a surge in pantry stocking and stimulus checks helped boost results. Still, the company has maintained revenue growth as demand remained resilient for the company's array of products, even as consumer prices have climbed across the country. As a result, U.S. comparable sales excluding gas — a closely watched metric of underlying sales trends at the company — grew by a greater-than-expected 4%. Walmart-only U.S. similar sales excluding gas also increased by a better-than-anticipated 3%.

Walmart also signaled that many of these cost pressures would remain a drag on profitability throughout the year. As a result, the company cut its profit outlook and now sees a decrease of about 1% in earnings per share for the whole year, compared to a prior outlook of an increase by mid-single digits.

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Alex Vieira Sells Costco at $610, Sharing Insight with Billionaire Charlie Munger

Alex Vieira has been helping individuals and companies invest in Costco long-term. He sold his stake at $610, sharing his insight with his clients. In addition, he dedicated his call to the American investor Charlie Munger, whom he greatly respects.

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Walmart (WMT) share price plunged on open bell 8% to $136

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