Wal-Mart raises EPS guidance for 4Q
November 12, 2009,
Bentonville, Ark. – Coming off a third quarter that provided better-than-expected earnings per share and sales increases, Wal-Mart Stores has increased its guidance for the full year.
The company now expects FY earnings per share from continuing operations of $3.57 to $3.61. Previously, the company forecast a range of $3.50 to $3.60.
For the fourth quarter, Wal-Mart Stores is projecting EPS to be between $1.08 and $1.12.
“When looking forward to the fourth quarter, you should recall that we are cycling a negative impact of six cents per share during the fourth quarter of last year because of currency exchange rates. We are also cycling the negative impact of seven cents per share related to a legal settlement accrual during the fourth quarter. Our guidance assumes that we will see currency exchange rates remain where they are today,” said Tom Shoewe, evp, cfo.