Walmart Inc. stock
slid 4.5% in premarket trade Tuesday, after the company offered weaker-than-expected guidance for the first quarter and full fiscal 2024, offsetting beats for the fourth quarter. The retailing giant posted net income of $6.275 billion, or $2.32, for the fourth quarter, up from $3.562 billion, or $1.28 a share, in the year-earlier period. Adjusted per-share earnings came to $1.71, ahead of the $1.52 FactSet consensus. Revenue rose to $164.048 billion from $152.781 billion, also ahead of the $159,759 billion FactSet consensus. U.S. same-store sales rose 8.3%, ahead of the 8.2% FactSet consensus. The company is now expecting first-quarter adjusted EPS of $1.25 to $1.30, below the FactSet consensus for $1.37. For the full year, it expects adjusted EPS of 45.90 to $6.05, also below the $6.53 FactSet consensus. The stock has gained 6% in the last 12 months, while the S&P 500
has fallen 6%.