HALISTER: Wal-Mart Sees FY18 GAAP EPS ‘Relatively Flat’ vs FY17 Adj. EPS

Wal-Mart Sees FY18 GAAP EPS ‘Relatively Flat’ vs FY17 Adj. EPS

(Bloomberg) -- Wal-Mart reiterates FY17 adj. EPS view $4.15-$4.35 (est. $4.34), sees FY18 GAAP EPS “relatively flat” vs FY17’s adj. EPS: comments in statement ahead of investor meeting.
  • For FY19, expects EPS growth ~5% (does not specify GAAP or adj.)
  • Expects continued momentum in store business; incremental U.S. e-commerce operating investments, including Jet.com, are expected to accelerate e-commerce growth
  • Capital investments seen ~$11b for FY18 as new store openings moderate, remodels accelerate, invests in e- commerce, digital initiatives; capex target remains $11b for FY17
  • Remains on track to generate ~$80b in operating cash flow from FY17 through FY19
  • Has $11.7b remaining on $20b share buyback authorization; expects to complete buyback “around” end of FY18
    • NOTE: WMT mkt cap $221.7b: Bloomberg data
  • Total unit growth plans (includes new, expanded, relocated units): FY17 Walmart U.S. stores 130, total (incl. intl, Sam’s Club) 331-351, FY18 plan Walmart U.S. 55, total 249-279
  • WMT’s 2016 Investment Community Meeting begins ~9am ET
  • See PREVIEW WAL-MART INVESTOR MEETING: Forecast Update, Investments
Alert: HALISTER
Source: BFW (Bloomberg First Word)

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WMT US (Wal-Mart Stores Inc)

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