Wal-Mart Stores Inc. (WMT) reported that its third-quarter net income attributable to the company was $3.24 billion or $0.84 per share, compared to $3.14 billion or $0.80 per share in the same quarter last year.
Income from continuing perations attributable to Walmart for the quarter were $0.84 per share, compared to $0.77 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter were $99.41 billion, compared to $98.35 billion in the prior year quarter. Eighteen analysts had consensus revenue estimate of $99.88 billion for the quarter.
The company's total U.S comparable store sales for the third-quarter declined 0.4% without fuel and 0.8% with fuel. This compares with year-ago quarter total U.S comparable store sales increases of 2.5% without fuel, and 2.9% with fuel.
Walmart U.S. expects comparable store sales during the 13-week period from Oct. 31, 2009 through Jan. 29, 2010 to be flat, plus or minus one percent - as compared to the 2.4% comp for the same period last year. Sam's Club expects comparable club sales during the fourth quarter 13-week period to be approximately flat, plus or minus one percent.
For the fourth quarter, the company expects earnings per share from continuing operations to be between $1.08 and $1.12. Analysts expect the company to report earnings of $1.12 per share for the fourth-quarter.
The company raised its fiscal 2010 earnings from continuing operations guidance to a range of $3.57 - $3.61 per share, from the prior range of $3.50 - $3.60 per share. Analysts expect the company to report earnings of $3.58 per share for fiscal 2010.
For comments and feedback: editorial@rttnews.com