Walmart Inc
Q4 2024 Earnings
Did WMT Beat Earnings? Q4 2024 Results
Walmart closed out Q4 fiscal 2024 with a decisive beat on both top and bottom lines, as the retail giant posted earnings per share of $1.80 against a consensus estimate of $1.64, a 9.76% beat, while revenue climbed 5.7% year over year to $173.39 billion, edging past the $170.71 billion analyst forecast. The standout driver behind the quarter's strength was a relentless push in omnichannel execution, with global eCommerce sales surging 23% and the international segment delivering net sales of $31.20 billion in constant currency, led by Flipkart, Walmex, and China. Adjusted operating income grew at a faster clip than revenue, reflecting better gross margins and disciplined cost controls. Meanwhile, Walmart's growing advertising business, which reached $3.40 billion for the full year, continues to signal a meaningful evolution in how the company monetizes its scale. Looking ahead, management guided fiscal 2025 adjusted EPS of $2.23 to $2.37 on a post-split basis, with consolidated net sales expected to grow 3% to 4% in constant currency.
- Global eCommerce sales grew 23%, surpassing $100 billion for the full year
- Global advertising business grew approximately 33%, including 22% for Walmart Connect in U.S.
- Share gains in grocery and general merchandise, particularly among higher-income households
- Walmart U.S. comp sales of 4.0% driven by grocery and health & wellness
- Strong inventory management with 4.5% inventory decline in Walmart U.S. and higher in-stock levels
- Membership income growth of 10.0% at Sam's Club with record total and Plus membership
- Walmart International sales led by Flipkart, Walmex, and China with strong festive events
- Gross profit rate expanded 39 bps to 23.3% from improved pricing and lower markdowns
“Our team delivered a great quarter, finishing off a strong year. We crossed $100 billion in eCommerce sales and drove share gains as our customer experience metrics improved, even during our highest volume days leading up to the holidays. We're proud of the team and excited about building on our momentum as we work to bring prices down for our customers and members.”
Walmart CEO, on the earnings call
Forward Guidance & Outlook
For Q1 FY25, Walmart expects consolidated net sales (cc) to increase 4.0% to 5.0% (with leap year estimated to benefit approximately 100 bps), consolidated operating income (cc) to increase 3.0% to 4.5%, and adjusted EPS of $1.48 to $1.56 pre-split ($0.49 to $0.52 post-split). For the full fiscal year FY25, the company guides consolidated net sales (cc) growth of 3.0% to 4.0%, consolidated operating income (cc) growth of 4.0% to 6.0%, adjusted EPS of $6.70 to $7.12 pre-split ($2.23 to $2.37 post-split), an effective tax rate of approximately 25.0% to 26.0%, net interest increase of approximately $100M to $200M, relatively flat non-controlling interest, and capital expenditures of approximately 3.0% to 3.5% of net sales. Guidance assumes a generally stable consumer and continued pressure from mix of products and formats globally.
WMT YoY Financials
WMT Revenue by Segment
WMT Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.