Walmart (WMT) Q1 2026 Earnings
How Did WMT Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +1.20%.
Did WMT Beat Earnings? Q1 2026 Results
Yes. Walmart reported Q1 2026 earnings of $0.61 a share on May 15, 2025, beating the $0.58 consensus estimate by 5.7%. Revenue was $164.0B against a $164.4B estimate.
Walmart posted a mixed but broadly encouraging first quarter for fiscal 2026, with adjusted earnings per share of $0.61 beating the $0.5769 consensus estimate by 5.74%, even as revenue of $163.98 billion came in just 0.27% below expectations and grew 1.5% year-over-year. The profit strength was underpinned by a 22% surge in global eCommerce sales and a 50% jump in the global advertising business — including contributions from VIZIO — alongside 14.8% growth in membership income, all of which helped offset modest grocery inflation of roughly 150 basis points driven largely by egg prices. Walmart U.S. comparable sales rose 4.5% excluding fuel, with health and wellness leading the way at high-teens growth, reflecting continued share gains among upper-income households. Looking ahead, management reiterated its full-year FY26 guidance for adjusted EPS of $2.50 to $2.60 and constant-currency net sales growth of 3.0% to 4.0%, though it withheld specific Q2 profit guidance amid uncertainty around tariff and trade policy — a cautious stance echoed across much of the retail sector this earnings season.
- Global eCommerce sales grew 22%, led by store-fulfilled pickup & delivery and marketplace
- Walmart U.S. comp sales up 4.5% driven by higher transaction counts and unit volumes
- Health & wellness grew high-teens, grocery grew mid-single-digits at Walmart U.S.
- Global advertising business grew 50% including VIZIO; Walmart Connect U.S. up 31%
- Membership income grew 14.8% globally
- Gross margin rate up 12 bps led by Walmart U.S. disciplined inventory management
- Improved eCommerce economics contributed to operating income growth
- Sam's Club U.S. comp sales up 6.7% ex-fuel with eCommerce delivery growth of ~160%
- China net sales grew 22.5% in constant currency with continued Sam's Club strength
- Grocery share gains led by upper-income households
“We delivered a solid first quarter in a dynamic operating environment. We're serving customers and members in more ways, which is fueling our growth. We're well positioned, maintaining flexibility to navigate the near-term while continuing to invest to create value for the long-term.”
Walmart CEO, on the earnings call
What Was Walmart's Outlook in Q1 2026?
Walmart reiterated its full-year FY26 guidance unchanged from the original outlook issued on February 20, 2025: net sales growth of 3.0% to 4.0% in constant currency, adjusted operating income growth of 3.5% to 5.5% in constant currency, adjusted EPS of $2.50 to $2.60 (including approximately $0.05 headwind from currency), effective tax rate of 23.5% to 24.5%, and capital expenditures of approximately 3.0% to 3.5% of net sales. For Q2 FY26, the company expects net sales to increase 3.5% to 4.5% in constant currency (including approximately 20 bps tailwind from VIZIO acquisition), based on Q2 FY25 net sales of $167.8 billion. The company withheld specific Q2 guidance for operating income growth and EPS, citing the dynamic nature of the operating environment and an exceedingly wide range of near-term outcomes, particularly related to tariff and trade policy uncertainty.
WMT YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $164.0B | $161.5B | +1.5% |
| Gross Profit | $39.7B | $40.1B | −1.0% |
| Operating Income | $7.1B | $6.8B | +4.3% |
| Net Income | $4.5B | $5.1B | −12.1% |
WMT Revenue by Segment
WMT Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.