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Walmex Q3'19 EPS beats Street as sales rise 4.9% YOY

Walmart Inc.'s Wal-Mart de México SAB de CV unit on Oct. 23 posted 6.6% year-over-year growth in EPS for the third quarter of 2019, beating analysts' estimates.

The hypermarket operator known as Walmex reported EPS for the quarter ended Sept. 30 of 53 Mexican centavos, up 6.6% from 49.7 centavos last year and ahead of the S&P Global Market Intelligence mean consensus estimate for normalized EPS of 51 centavos. Net income rose to 9.25 billion Mexican pesos from 8.68 billion pesos in the year-ago quarter.

Total revenue reached 155.02 billion pesos, an increase of 4.9% year over year from 147.77 billion pesos.

Walmex CEO Guilherme De Souza Macedo Loureiro said on a call following the publication of the results that its core division, food and consumables, had the highest growth, followed by general merchandise. He added that the company is in the process of restructuring its merchandising team to bring together members with different expertise and backgrounds.

Same-store sales grew 3.8% in Mexico and declined 0.2% in Central America. E-commerce sales increased 65% during the quarter, representing 1.4% of total sales and contributing 0.6% to the company's overall growth.

Walmex opened 36 new stores in the third quarter, 29 of which are in Mexico and seven in Central America.

As of Oct. 23, US$1 was equivalent to 19.12 Mexican pesos.