Walmart’s revenue in Q3 was $134.7 billion, up to $6.7 billion or 5.2%, year over year, according to WMT earnings report. U.S. e-commerce sales rose 79% with strong results across all channels. The company’s revenues were weighed down by incremental costs of $0.6 billion relating to COVID-19.
- Walmart U.S. comp sales rose 6.4% with strength across key categories, including general merchandise, health & wellness, and food.
- Sam’s Club comp sales increased 11.1% while eCommerce sales grew 41%.
- New member sign-ups and renewal rates accelerated, raising membership income by 10.4%.
- Walmart’s International net sales rose 1.3% to $29.6 billion, but currency changes reduced sales by about $1.1 billion.
- Consolidated gross profit rate increased 50 basis points with positive contributions from each operating segment.
- Consolidated operating expenses as a percentage of net sales declined 18 basis points.
- Consolidated operating income rose 22.5% to $5.8 billion while adjusted operating income in constant currency increased 16.4%.
- GAAP earnings per share (EPS) was $1.80 while adjusted EPS was $1.34.
- Operating cash flow year to date rose about $8.3 billion to reach $23 billion.
Walmart stock is currently gaining. WMT: NYSE is up 1.23%
