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Walmart Stock Price Slips Despite Beating Q3 Expectations

Nigel Firth
Nigel Frith trader
Updated 16 Nov 2021

Despite Walmart (NYSE: WMT) posting impressive Q3 results earlier today, the market has failed to represent the flurry of eager buyers. It seems that Walmart’s Q3 earnings weren’t quite enough to spur any serious movement in Tuesday premarket trading – with stock slipping just under 1%. 

Walmart reported EPS of $1.45 adjusted compared to analyst expectations of $1.40, with a revenue of $140.53B versus an expected $135.60B – beating both predictions through impressive quarterly growth. 

Not only did Walmart post impressive Q3 earnings, but they have also raised their total forecast for fiscal 202, a further green light for investors, but again a move that has failed to evoke the expected response in the market this morning. Walmart’s adjusted predictions are for an EPS of around $6.40, a $0.20 increase from the previous expectation of $6.20.

Walmart’s quarterly growth has, for the most part, rising levels of inflation to blame. Price-conscious shoppers flock to reliable, affordable retailers; of which Walmart is a long-standing favorite. Seasonal celebrations are a lucrative time for retailers like Walmart, and optimism remains high in the face of supply chain snarls thanks to large-scale manufacturing negotiations and a bulk of inventory – surpassing the issues facing many food manufacturers. 

On the Q3 earnings call, Walmart CEO Doug McMillon expressed his optimism:

“There’s a level of excitement in the air…You can feel it. I’ve been walking away from these stores with a recurring thought, ‘We’re ready, we have the people, the products, and the prices to deliver a great holiday season.’”

Walmart, like many other retailers, has had an incredibly mixed year. With the economy on the bounce and inflation on the rise – the companies Q3 earnings remind investors that Walmart is still the retail powerhouse that it always has been. WMT stock is currently trading around the $145 level, showing a daily loss of 0.96%.

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Nigel Firth
Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.