Walmart Inc

WMT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$51.00	Dckjd	Yjdpxdsf

Walmart Earnings: Low Prices Winning Over Customers, Who Are Spending More

Noah Rohr

Feb 20, 2024

Wide-moat Walmart capped off a strong fiscal 2024 with solid fourth-quarter results that exceeded our expectations. The firm’s $1.80 in adjusted EPS for the quarter landed about 8% ahead of our forecast as the company’s low prices continued to attract consumers. However, management issued fiscal 2025 guidance that came in slightly below our expectations on both the top and bottom lines. As such, we do not plan to alter our $147 fair value estimate materially.

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