As the fiscal year ended, Walmart sales gained but earnings fell shy of Wall Street expectations.
In the fourth quarter, Walmart Stores posted company net income of $2.18 billion, or 73 cents per diluted share, versus $3.76 billion, or $1.22 per diluted share, in the period a year earlier.
Walmart maintained that, adjusted for restructuring and other one-time charges, earnings per share for the quarter were $1.33 versus $1.30 in the period a year before. Adjusted earnings fell four cents short of a MarketBeat-published analyst average estimate.
Net sales were $135.15 billion and net revenues, including membership and other income, were $136.27 billion and other income, versus net sales of $129.75 billion and net revenues of $130.94 billion, in the quarter a year prior. Operating income in the quarter was $4.47 billion versus $6.21 billion in the period a year previous.
In the U.S. operation, Walmart comparable sales without the impact of fuel revenues were up 2.6% and, without fuel, Sam’s club comps gained 2.4% in the quarter year over year. Walmart U.S. net sales were $86.6 billion versus $83.7 billion in the quarter a year earlier. Operating income was flat at $5 million in the quarter year over year. For the quarter, e-commerce sales and gross merchandise volume at Walmart U.S. advanced 23% and 24%, respectively.
For the full fiscal year, Walmart posted company net income of $9.86 billion, or $3.28 per diluted share, versus $13.64 billion, or $4.38 per diluted share, in the earlier fiscal year. Adjusted earnings per share for the fiscal year were $4.42 versus $4.32 in the fiscal year before.
In the fiscal year, net sales were $495.76 billion and net revenues were $500.34 billion versus net sales of $481.32 billion and net revenues of $485.87 billion in the prior year. Operating income was $20.44 billion versus $22.76 billion in the previous fiscal year.
Walmart U.S. comps without the impact of fuel revenues were up 2.1% in the fiscal year, and without fuel, Sam’s Club comps gained 2% in the year. Walmart U.S. net sales were $318.5 billion versus $307.8 billion in the fiscal year earlier. Operating income was $17.9 billion versus $17.7 billion year over year, according to Walmart. In the fiscal year, e-commerce sales and GMV at Walmart U.S. advanced 44% and 47%, respectively.