By - Team Kalkine Media
- Walmart Inc. (NYSE: WMT) reported revenue of US$141.6 billion in the first quarter.
- Home Depot Inc. (NYSE: HD) posted first-quarter sales of US$38.9 billion.
- Walmart’s international net sales stood at US$23.8 billion.
US retail behemoths Walmart and Home Depot reported their quarterly earnings on Tuesday. Here, we look at their key metrics in terms of revenue, sales, profits, and forecast for the year:
Walmart Inc. (NYSE: WMT)
US multinational retail corporation Walmart Inc. (NYSE: WMT) reported its first-quarter earnings for fiscal 2023 on Tuesday, which showed a 25% drop. The retail and wholesale major also cut its full-year profit, hit by soaring fuel and labor costs.
WMT’s total revenue was US$141.6 billion, up 2.4%, or 2.6% in constant currency. Walmart reported international net sales of US$23.8 billion.
In its biggest single-day drop since February 2018, shares of Walmart fell nearly 10% in morning trading on Tuesday. Shares of rival Target Corp (NYSE: TGT) also fell by 3%.
The global advertising business of the Bentonville, Arkansas-based retail giant surged by more than 30%. Walmart reported a consolidated operating income of US$5.3 billion, negatively affected by US$0.3 billion from divestitures.
Also Read: Elon Musk says no-deal before Twitter proves fake account numbers
Also Read: GOOGL, FB, & AMD among top 5 growth stocks to explore
Home Depot Inc. (NYSE: HD), one of the largest home improvement retailers in the world, reported sales of US$38.9 billion for the first quarter of fiscal 2022 on Tuesday. It was an increase of US$1.4 billion or 3.8% from the year-ago quarter.
Home Depot’s net earnings for the reported quarter were US$4.2 billion, or US$4.09 per diluted share. Net earnings in the same quarter in 2021 were US$4.1 billion, or US$3.86 per diluted share.
Home Depot is anticipating fiscal 2022 comparable sales to grow about 3%, compared with its previous forecast of slight positive growth. HD also estimates its per-share earnings to climb in the mid-single-digit percentage range.
Home Depot earned US$4.09 per share in the first quarter, surpassing estimates of US$3.68.
Walmart posted a strong 3% rise in US same-store sales for the reported quarter, propelled by higher food and health and wellness products sales.