Walmart Inc (NYSE:WMT) stock took a hit on Tuesday following the release of its earnings report for its fiscal fourth quarter of 2018.
During the fiscal fourth quarter of the year, Walmart Inc reported earnings per share of $1.33. This is up from its earnings per share of $1.30 from the same time last year. However, it was bad news for WMT stock by coming in below Wall Street’s earnings per share estimate of $1.37 for the period.
Walmart earnings also include net income of $2.18 billion for the fiscal fourth quarter of 2018. This is a roughly $1.58 billion decrease from its net income reported in the fiscal fourth quarter of 2017.
Operating income reported by Walmart Inc for its fiscal fourth quarter of 2018 was $4.47 billion. The retail giant’s operating income from the same period of the year prior was $6.20 billion.
Revenue in the Walmart earnings report for its fiscal fourth quarter of 2018 was $136.27 billion. This is an increase over its revenue of $130.90 for its fiscal fourth quarter of the previous year. Analysts were looking for revenue of $134.91 billion for the quarter.
Walmart Inc notes that it has yet to complete its analysis of the changes to U.S. tax laws will have on it. Despite this, it is still recording an provisional benefit of $207 million for its fiscal fourth quarter and full year of 2018.
The recent Walmart earnings report also includes an outlook for fiscal 2019. The company is expecting earnings per share for the year to range from $4.75 to $5.00. Wall Street is estimating earnings per share of $4.97 for the fiscal full year of 2019.
WMT stock was down 9% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.