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Walmart Reports on Q3 of FY 2019

11/16/2018

In a press release dated November 15th Walmart Inc. (WMT) announced results for the 3rd Quarter of Fiscal 2019 ending October 31st 2018.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

3rd Quarter Ending October 31st.

2018

2017

Difference (%)

Sales:

$124,894,000

$123,179,000

+1.4

Gross profit:

$30,973,712

$30,794,750

+5.8

Operating income:

$4,986,000

$4,764,000

+4.7

Net Income

$1,710,000

$1,749,000

-2.2

Diluted earnings per share:

$1.08

$1.00

+8.0

Gross Margin (%)

24.8

25.0

-0.8

Operating Margin (%)

4.0

3.9

+2.6

Profit Margin (%)

1.4

1.4

nil

Long-term Debt: January 31st

$30,035,000

$36,015,000

-16.5

12 Months Trailing:

     

Return on Assets (%)

6.7

   

Return on Equity (%)

7.6

   

Operating Margin (%)

4.3

   

Profit Margin (%)

1.0

   

Total Assets

$226,583,000

$209,414,000

+0.2

Market Capitalization

$291,000,000

   

52-Week Range in Share Price: $81.78 to $109.98

Market Close: Wednesday 14th November $101.55. Post-release 11H00 Thursday 15th November $99.29

Forward P/E: 21.2 Beta +0 5

Segment performance for Q3 comprised:-

Walmart USA: Operating profit of $3.94 billion on sales of $80.58 billion with 3.4 percent comp.

Walmart Int: Operating profit of $1.18 billion on sales of $28.79 billion with a range of 2.2% comp. for China to 5.3% Mexico

Sam's Club: Operating profit of $0.38 billion on sales of $14.52 billion with 3.2 percent comp.

E-commerce increased 43 percent for Walmart.

In commenting on results Doug McMillon, president and CEO stated "We're pleased with the overall results we posted for the third quarter. We continue to see strong comp. store sales. Our results reflect not only value our customers are finding in our offer, and a lot of hard work from the team, but certainly some macro tailwinds as well, especially in the U.S." He added "each of our segments achieved solid sales growth. Excluding fuel, comp, sales at Walmart U.S. increased 3.4 percent against last year's most difficult comparison, and Walmart U.S. E-Commerce grew sales 43 percent. Sam's Club grew comps 5.7 percent, excluding fuel and tobacco. Outside of the U.S., comp. sales were positive in all our major markets, led by Mexico's 6.3 percent gain. We were also pleased to officially welcome Flipkart to the Walmart family when we closed that acquisition on August 18. Overall, we're encouraged by the momentum in our business and excited to be in a strong position to invest for the future"

WMT raised EPS guidance for FY 2019 to a range of $2.26 to $2.36 and projected same-store sales to increase by 3.0 percent