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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Wal-Mart Cuts Earnings Forecast 0 comments
    Aug 15, 2013 12:06 PM | about stocks: WMT

    Originally published at

    Wal-Mart Stores Inc. (NYSE:WMT) announced its financial results for the second quarter of fiscal year 2013, while also cutting its annual guidance in the midst of a tough economic environment. Previously the company projected earnings per share as high as $5.40 but has now dropped its guidance to between $5.10 and $5.30 per share. Sales growth estimates were similarly reduced from 5% to 6% to now between 2% and 3%. Wal-Mart had a favorable second quarter, with profit increasing from $4.02B this time last year to $4.07B with earnings per share of $1.24. Revenue increased similarly by 2.3% from $114.3B to $116.9B with same-store sales dropping by 0.3%, missing analyst estimates of a 1% gain. Wal-Mart CFO Charles Holley remarked that the economic environment is challenging on consumers and discretionary spending, resulting in the negative impact of same-store sales.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: WMT
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