Walmart shares fell 9.2% to $103.84 on Thursday, their worst single session since May 2022, even as the retailer reported fiscal second-quarter revenue up 5.9% to $187.9 billion and raised its full-year outlook. U.S. comparable sales rose just 2.6%, down from 4.6% a year earlier and 4.1% in the prior quarter, while pharmacy deflation tied to new drug-price regulation shaved about 125 basis points off U.S. comps. Management now expects full-year sales growth of 4% to 5% in constant currency and adjusted earnings per share of $2.80 to $2.87, but third-quarter guidance calls for sales growth of only 3% to 3.75%. The stock trades at about 37 times expected earnings, roughly 9% above its 52-week low and 23% below its high.
Walmart Inc.Shares fell 9.2% despite raised outlook, with weak U.S. comps and pharmacy deflation pressuring earnings.
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