Walmart Inc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.20%.
Did WMT Beat Earnings? Q1 2026 Results
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
Forward Guidance & Outlook
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
WMT Revenue by Segment
WMT Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.