Walmart Shares Drop 7% on Guidance Cut
<p><a href='https://financialmodelingprep.com/financial-summary/WMT'>Walmart Inc. (NYSE:WMT)</a> shares dropped more than 7% on Tuesday following the company’s preannounced Q2 results and 2023 guidance cut, reflecting even greater than planned mix/margin pressures.</p>
<p>Q2 and 2023 consolidated revenue growth are expected to be approximately 7.5% and 4.5%, respectively. Operating income is expected to decrease 13-14% and 11-13% for Q2 and 2023, respectively. Q2 and 2023 operating margins are expected to be about 4.2% and 3.8%-3.9%, respectively. </p>
<p>Adjusted EPS is expected to drop around 8-9% and 11-13% for Q2 and 2023, respectively. The reduction was primarily driven by pricing actions to improve inventory at Walmart and Sam's Club in the US and the mix of sales.</p>

NYSE:WMT