14 May 2009

WMT: Earnings Announcement 2009-1Q

Wal-Mart Stores, Inc. (NYSE: WMT) earned $0.77 per share in the quarter that ended on 30 April 2009, up from $0.76 last year.  We had estimated earnings of $0.78.

This quarter was the first of the company's fiscal 2010.

Although sales were down from April 2008, Wal-Mart reports that sales would have increased 4.5 percent if not for "the negative impact of currency exchange rates."

The spreadsheet below compares the actual results to our Income Statement model of Wal-Mart.  Please note that our arrangement of data may differ in material respects from the company's presentation.

With this report, Wal-Mart changed the classification of various revenue and expense items.  We will have to catch up.


Full disclosure: Long WMT at time of writing.

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