Walmart stock jumps as retailer boosts forecast despite inflation

Retail giant beat Q4 earnings estimates and hiked its dividend

Walmart shares took a climb on Thursday following the release of the retail giant's fourth-quarter earnings.

Ticker Security Last Change Change %
WMT WALMART INC. 122.63 +1.05 +0.86%

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The firm beat analysts' estimates on earnings per share by 3 cents, hitting $1.53, and saw revenue rise .5% to $152.9 billion despite supply chain woes and inflation hitting a 40-year high in the U.S. During the same quarter a year ago, Walmart lost $2.9 billion.

"We had another strong quarter to finish off a strong year," president and CEO Doug McMillon said in a statement. "We have momentum in our business in all three segments."

Walmart Doug McMillon

Walmart President and CEO Doug McMillon (Reuters / Reuters Photos)

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"We’re being aggressive with our plans and executing on the strategy," McMillon said, adding, "It’s exciting to see how the teams are simultaneously navigating today’s challenges and reshaping our business."

Walmart also showed optimism for its performance this fiscal year, projecting sales growth above 3%, earnings around the mid-single-digits, and boosting its quarterly dividend by a penny to $.056 for an annual payout on the fiscal year of $2.24.

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Walmart truck driving on the interstate near Bakersfield, California, on May 25, 2018. (iStock / iStock)

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The nation's largest retailer's results for the quarter ending Jan. 31 come on the heels of reports that consumers accelerated their retail spending last month, despite an 11-year low in consumer confidence. 

FOX Business' Meagan Henney and The Associated Press contributed to this report.