Retailer Walmart (NYSE: WMT), long known for its thin-margin, discount-pricing model, has celebrated a series of financially successful years as it reaps the rewards of its technology investments.
Full-year financial results for Walmart's fiscal year ended Jan. 31, 2024, and the quarter ended April 30, 2024, show strong momentum. Shoppers are flocking to its stores and utilizing its e-commerce channels in growing numbers. The stock has responded, hitting 52-week highs.
For the full 2024 fiscal year, Walmart reported results that more than justify its current stock price. Consolidated revenue grew 5.5% in constant-currency terms for the year. Generally accepted accounting principles (GAAP) net earnings per share were $5.74 and $6.65 on an adjusted basis. The company generated $15 billion in free cash flow, a $3 billion increase.
Source Fool.com