88.39
1.39%
1.21
After Hours:
88.33
-0.06
-0.07%
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Why is Walmart Inc (WMT) Stock down?
We've noticed a 66.05% decline in Walmart Inc (WMT) stock during the 2024-02-26 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
16 Nov, 2023:
Shares of Walmart Inc. (WMT) dropped by 8.09% from $169.78 to $156.04 in the trading on Thursday, Novemeber 16, 2023. The reason why WMT is down today is due to the mixed Q3 results.
- Q3 highlights: In the third quarter of fiscal year 2024, Walmart reported robust sales growth, with a 5.2% year-over-year increase, bringing the total revenue to $160.8 billion. This figure surpassed the consensus estimate of $159.55 billion, demonstrating the company's strong performance. Additionally, the adjusted earnings per share (EPS) for the quarter stood at $1.53, exceeding the $1.50 reported in the same quarter of the previous year and surpassing the consensus estimate of $1.52.
- FY2023 guidance: Looking ahead to fiscal year 2024, Walmart adjusted its earnings per share guidance to a range of $6.40 to $6.48, up from the prior range of $6.36 to $6.46, although this range fell short of the estimated value of $6.48. On the other hand, the company raised its net sales growth outlook for FY2024 to a range of 5.0% to 5.5%, showing optimism in its future performance. This adjustment was made from the earlier range of 4% to 4.5%, providing some positive aspects amid the cautious revenue growth guidance.
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