Investing.com - Walmart (NYSE:WMT) cut its full-year guidance for earnings per share, according to a release on Tuesday.
The company said it now expects it fiscal 2019 earnings per share to be $2.65 to $2.80 and its adjusted earnings per share estimate to be $4.65 to $4.65. That compared to the previous projection of $2.90 to $3.05 and $4.90 to $5.05, respectively.
The company released the updated outlook ahead of its annual meeting for investors.
Walmart President and CEO Doug McMillon indicated that the company was adapting and transforming in an attempt to better serve current customers and capture new clients.
“We’re operating with discipline, balancing our short and long-term opportunities,” he said. “While we’re excited about what we’ve done so far, we aren’t satisfied,” he said.
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