Walmart Lifts Outlook, but Wall Street Wanted More
Dow Jones
Aug 20
0714 ET - Walmart lifts its outlook for the year as it posts higher sales in its fiscal second quarter, ended July 31. The retailer now expects net sales to increase 4% to 5% for the year, compared with a prior forecast of up 3.5% to 4.5%. The company also boosts its adjusted per-share earnings outlook to $2.80 to $2.87 a share, from $2.75 to $2.85 a share. Despite the raises, the guidance is slightly behind Wall Street estimates. Analysts polled by FactSet are looking for adjusted earnings of $2.90 a share on sales of $752.06 billion, equivalent to a 5.5% increase from last year. Capital expenditures are now expected to total approximately 4% of net sales, up from a prior forecast of roughly 3.5% of net sales. Shares fall 5.6% premarket.
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