Walmart Inc. WMT, stock rose 2.2% in Tuesday premarket trading after the retail giant raised its full-year earnings guidance, the third consecutive quarter it has done so. Net income totaled $3.11 billion, or $1.11 per share, down from $5.14 billion, or $1.80 per share, last year.
Adjusted EPS of $1.45 beat the FactSet consensus for $1.40. Revenue of $140.53 billion was up from $134.71 billion last year and also beat the FactSet consensus of $135.43 billion. U.S. e-commerce sales were up 8% year-over-year, and have grown 87% on a two-year basis.
Walmart international sales fell 20.1% to $23.6 billion, impacted by divestitures. U.S. comparable sales excluding fuel grew 9.2%, ahead of the FactSet consensus for 6.4% growth. U.S. inventory is up 11.5% ahead of the holidays. Walmart is one of the large retailers that has chartered its own ships to get around supply chain bottlenecks.
Walmart expects full-year EPS of $5.00, adjusted EPS of $6.40, up from previous guidance of $6.20 to $6.35 and U.S. comp sales growth excluding fuel of 6%. The FactSet consensus is for EPS of $6.34 and U.S. comp sales growth of 0.8%. Walmart stock is up nearly 2% for the year.