Walmart Inc. Update: Solid Top-Line Growth And Share Gains Continue

Walmart reported a strong 1Q earnings beat with 4.1% US comp growth and significant share gains in general merchandise. Goldman Sachs reiterates its Buy rating and raises the price target to $154.

Key Takeaways

• 1.Walmart delivered a solid 1Q earnings beat with US comparable sales growing 4.1%, driven by traffic and market share gains.
• 2.The company reported its highest level of market share gains in general merchandise in five years, benefiting from consumers seeking value.
• 3.Digital and alternative revenue streams remain strong, with eCommerce net sales and global advertising growing 26% and 37% respectively.

Table of Contents

• Key Takeaways
• Key Data
• GS Forecast
• GS Factor Profile
• Ratios & Valuation
• Growth & Margins (%)
• Industry metrics
• Income Statement ($ mn)
• Balance Sheet ($ mn)
• Cash Flow ($ mn)
• Estimate Changes
• Valuation & Risks
• Disclosure Appendix

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