On May 15, Wal-Mart Stores
- Revenue increased by 8.5% to $86.4 billion, thanks to a steady rise in international sales by 18.5%.
- Comparable-store sales in the U.S. increased by 3.8% and 4.3% for Wal-Mart stores and Sam's Club, respectively.
- For Q2 2008, the company estimates comparable-store sales will increase between 1%-2% in the U.S., while EPS from continuing operations will be around $0.75-$0.79.
- The company plans to launch a joint venture of wholesale stores with Bharti Group in India by the middle of 2008, and expand its presence to 75 cities in five to seven years.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2008 |
Q1 2007 |
Change |
|
|---|---|---|---|
|
Sales |
$86,410 |
$79,676 |
8.5% |
|
Net Profit* |
$2,826 |
$2,660 |
6.2% |
|
EPS* |
$0.68 |
$0.64 |
6.3% |
|
Diluted Shares |
4,128 |
4,170 |
(1.0%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2008 |
Q1 2007 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
24.4% |
24.4% |
0.0 |
|
Operating Margin |
5.6% |
5.6% |
0.0 |
|
Net Margin |
3.3% |
3.3% |
0.0 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2008 |
Q1 2007 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$6,563 |
$5,690 |
15.3% |
|
Accounts Rec. |
$3,300 |
$2,430 |
35.8% |
|
Inventory |
$35,200 |
$31,900 |
10.3% |
|
Liabilities |
Q1 2008 |
Q1 2007 |
Change |
|---|---|---|---|
|
Accounts Payable |
$27,562 |
$25,115 |
9.7% |
|
Long-Term Debt |
$29,567 |
$25,036 |
18.1% |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q1 2008 |
Q1 2007 |
Change |
|
|---|---|---|---|
|
Cash From Ops.* |
$1,847 |
$3,788 |
(51.2%) |
|
Capital Expenditures |
$3,157 |
$3,210 |
(1.7%) |
|
Free Cash Flow |
($1,310) |
$578 |
N/A |
Free cash flow is a Fool's best friend.
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