Why Walmart Shares Are Trading Higher Today

Walmart Inc (NYSE: WMT) is trading higher Thursday after the company reported better-than-expected fiscal fourth-quarter financial results, issued guidance and updated its buyback plans.

Walmart reported quarterly revenue of $152.9 billion, which beat the $151.54 billion estimate. The company reported adjusted earnings of $1.53 per share, which beat the $1.50 estimate. 

"We have momentum in our business in all three segments. We’re being aggressive with our plans and executing on the strategy," said Doug McMillon, president and CEO of Walmart. 

Walmart expects fiscal year 2023 consolidated net sales to increase by about 3% and earnings per share to grow in the mid single-digit range. The company’s guidance assumes "some degree of relief" from costs associated with COVID-19 and disruptions in the supply chain as the year progresses.

Walmart also announced plans to repurchase at least $10 billion of its shares in fiscal year 2023. 

See Also: If You Invested $1,000 In Walmart Stock One Year Ago, Here's How Much You'd Have Now

WMT Price Action: Walmart has traded as low as $126.28 and as high as $152.57 over a 52-week period.

The stock was up 4.04% at $138.92 at time of publication.

Photo: courtesy of Walmart.