Shares of Walmart Inc (NASDAQ:WMT) are down 7.3% at $106.01 before the open, after the retail giant's second-quarter results failed to impress Wall Street.
Walmart (WMT) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.68 per share a year ago.
Walmart's e-commerce gains were driven by strong growth in pickup, delivery and its online marketplace across its U.S. and international businesses.
The supermarket chain reported comparable U.S. sales growth of 2.6% in its second-quarter earnings, its lowest in over five years.
Walmart said it received nearly $2.9 billion in tariff refunds and plans to use some of the benefit to support lower prices for shoppers, while the refunds also provided a significant boost to quarterly operating income.
Walmart is expected to report its fiscal second-quarter earnings on Thursday, offering a read on the consumer and the K-shaped economy. The retailer previously issued a worse-than-expected financial outlook for the year.
Walmart Inc (WMT) stock remain in the spotlight ahead of the retail behemoth's fiscal Q2 earnings scheduled to be released before the market opens on August 20. Consensus is for WMT to record $0.73 a share of earnings (EPS) on nearly $185 billion in revenue, which would represent a more than 5% top-line growth on a year-over-year basis.
Walmart (NYSE:WMT | WMT Price Prediction) screens as a low-deliberation candidate for a retirement portfolio heading into the Aug.
Walmart is due to report earnings Thursday morning, with traders anticipating a big move from the retailer's stock following the results.
Walmart reports earnings Thursday (Aug. 20), and it enters with a valuable retail advantage that looks both powerful and underused. It captures the weekly grocery trip, yet Amazon increasingly captures what shoppers buy beyond it.
Walmart (WMT) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Walmart (NASDAQ:WMT | WMT Price Prediction) has cooled after a strong spring run.