Walmart shares fell 4.5% in premarket trading as softer guidance offsets profit margins

shares of Walmart Inc. wmt,
+1.50%
fell 4.5% in premarket trading on Tuesday after the company released weaker-than-expected guidance for the first quarter and full fiscal year 2024, offsetting fourth-quarter results. The retail giant reported net income of $6.275 billion, or $2.32, for the fourth quarter, compared with $3.562 billion, or $1.28 per share, a year earlier. Adjusted earnings per share were $1.71, beating the FactSet consensus of $1.52. Revenue rose to $164.048 billion from $152.781 billion, also above the FactSet consensus of $159.759 billion. Same-store sales in the US rose 8.3%, beating the FactSet consensus by 8.2%. The company currently expects first-quarter adjusted earnings per share to be between $1.25 and $1.30, below the FactSet consensus of $1.37. For the full year, adjusted earnings per share are expected to be between $45.90 and $6.05, also below the FactSet consensus of $6.53. Shares are up 6% in the past 12 months while the S&P 500 SPX,
-0.28%
fell by 6%.

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