US retail giant Walmart expects 4% net sales growth in Q2 FY24

24 May '23

1 min read

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Insights

US retailer Walmart expects a 4-per cent sales increase in Q2 FY24, but a 2-per cent operating income decline.
Adjusted EPS is forecast at $1.63-$1.68.
The company's FY24 guidance predicts a 3.5-per cent sales increase, while the operating income is projected to rise 4-4.5 per cent.
In FY24, the company expects adjusted EPS of $6.10-$6.20.

Retail giant Walmart has released its guidance for the second quarter (Q2) of fiscal 2024 (FY24), outlining its expectations for sales, operating income, and earnings per share. The company anticipates a consolidated net sales increase of approximately 4 per cent in constant currency in Q2 FY24.

However, despite the growth in net sales, Walmart predicts a decline of approximately 2 per cent in consolidated operating income for Q2 FY24, the company said in a media release.

Furthermore, Walmart's adjusted earnings per share (EPS) guidance for Q2 FY24 is set at a range of $1.63 to $1.68.

For FY24, the company anticipates a consolidated net sales increase of approximately 3.5 per cent in constant currency.

In contrast to the projected decline in Q2 FY24, Walmart expects consolidated operating income to increase by approximately 4-4.5 per cent for FY24. Additionally, the company foresees an increase of around $600 million in net interest expenses compared to the previous year.

Walmart's adjusted EPS guidance for FY24 is set at a range of $6.10 to $6.20. In terms of capital expenditures, the company projects a flat to slightly increased level compared to the previous year, remaining consistent with its prior guidance.

Fibre2Fashion News Desk (DP)

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