=Wal-Mart (WMT) reported earnings on Thur 16 Nov 17 (b/o)

Wal-Mart beats by $0.03, beats on revs; raises FY18 EPS above consensus

• Reports Q3 (Oct) earnings of $1.00 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.97; revenues rose 4.2% year/year to $122.14 bln vs the $120.23 bln Capital IQ Consensus. 
  • Walmart U.S. comp sales increased 2.7% vs. +1.5-2.0% guidance, traffic increased 1.5% with ticket +1.2%; including fuel, Walmart U.S. comparable sales grew 2.8%. Operating income +0.8% to $4.03 bln. Hurricanes benfited comps 30-50 bps; strong eprformacne in food. Gross margin -36 bps on price investments ecommerce growth. Comp inventory down 3.5%
  • Sam's Club comps +2.8% vs. +1.0-1.5% guidance. Sees Q4 Walmart US comps +1.5-2.0% ex-fuel; Sam's Club +1.5-2.0% ex-fuel
• Co issues upside guidance for FY18, sees EPS of $4.38-4.46 from $4.30-4.40, excluding non-recurring items, vs. $4.38 Capital IQ Consensus Estimate.