5 Companies on Investors’ Radar After Releasing Their Quarterly Results

2. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 63

Shares of Walmart Inc. (NYSE:WMT) recently hit a new 52-week low of $130.64 following its mixed financial performance for the first quarter. The Arkansas-based retail giant reported adjusted earnings of $1.30 per share, missing the consensus of $1.48 per share with a big margin.

On the bright side, Walmart Inc. (NYSE:WMT) posted revenue of $141.57 billion, up 2.4 percent over the same period of 2021 and above estimates of $138.94 billion. The company’s comparable U.S. sales increased 3 percent, while e-commerce sales inched up just 1 percent on a year-over-year basis.

Walmart Inc. (NYSE:WMT) also trimmed its profit outlook for the current quarter. The company now expects earnings in the range of flat to up slightly. Previously, Walmart was expecting its earnings to increase in the low to mid-single-digits range.

Speaking on the results, CEO Doug McMillon said in a statement:

“Bottomline results were unexpected and reflect the unusual environment. U.S. inflation levels, particularly in food and fuel, created more pressure on margin mix and operating costs than we expected. We’re adjusting and will balance the needs of our customers for value with the need to deliver profit growth for our future.”