5 Stocks Gaining Attention After Beating Profit Expectations

1. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 71

Shares of Walmart Inc. (NYSE:WMT) slightly moved down in the pre-market trading session on Tuesday, 16 November 2021, despite beating expectations for the third quarter. The retail giant reported adjusted earnings of $1.45 per share, up from $1.34 per share in the year-ago quarter.

Revenue came in at $140.53 billion, compared to $134.71 billion in the same period of 2020. Analysts were expecting Walmart Inc. (NYSE:WMT) to report earnings of $1.40 per share on revenue of $135.43 billion.

Comparable sales in the U.S. increased 9.2 percent, above expectations of 6.9 percent. Moreover, Sam’s Club comparable sales in the quarter jumped 13.9 percent versus last year and 25 percent versus 2019.

In addition, e-commerce sales in the U.S. rose 8 percent versus last year and about 87 percent versus 2019. On the downside, Walmart’s international sales decreased nearly 20 percent on a year-over-year basis to $23.6 billion.

Walmart Inc. (NYSE:WMT) also raised the earnings outlook for its FY 2022. The company now expects adjusted earnings of $6.40 per share, compared to its earlier outlook in the range of $6.20 – $6.35 per share. The updated guidance is also above the consensus forecast of $6.34 per share.

Speaking on the results, CEO Doug McMillon said:

“Our momentum continues with strong sales and profit growth globally. Our omnichannel focus is pushing digital penetration to record levels. We gained market share in grocery in the U.S., and more customers and members are returning to our stores and clubs around the world.”

You can also take a peek at 11 Best Hotel Stocks To Invest In and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

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