Walmart Inc
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +4.35%.
Did WMT Beat Earnings? Q2 2026 Results
Walmart posted a mixed second quarter of fiscal 2026, with a top-line beat overshadowed by a bottom-line shortfall — a split verdict that captures the complexity of the retailer's current moment. Revenue reached $177.40 billion, up 4.8% year-over-year and ahead of the $174.38 billion consensus by 1.73%, driven by broad-based strength across all three operating segments and a 25% surge in global eCommerce sales. Adjusted EPS of $0.68, however, missed the $0.7382 consensus by 7.88%, held back by $440 million in discrete legal charges and $150 million in business reorganization costs that weighed heavily on reported operating income. The contrast with rival Target — which has now logged three consecutive quarters of year-over-year sales declines amid its own strategic turbulence — illustrates how effectively Walmart has retained and grown its customer base, particularly among upper-income households. Looking ahead, management raised its full-year FY26 outlook, now projecting adjusted EPS of $2.52 to $2.62 and net sales growth of 3.75% to 4.75% in constant currency, signaling continued confidence in its underlying momentum.
- Global eCommerce sales grew 25%, with store-fulfilled delivery up nearly 50% at Walmart U.S.
- Walmart U.S. comp sales up 4.6% with share gains across income brackets, led by upper-income households
- Global advertising business grew 46% including VIZIO; Walmart Connect up 31%
- Membership income grew 15.3% globally
- Strong growth in grocery and health & wellness categories
- China net sales growth of 30.1% in constant currency with eCommerce up 39%
- Sam's Club U.S. comp sales up 5.9% excluding fuel with eCommerce up 26%
“The top-line momentum we have in our business comes from how we're innovating and executing. Connecting with our customers and members through digital experiences is helping to drive our business, and the way we're deploying AI will make these experiences even better. We're people-led and tech-powered, and I love how our associates continue to drive change and results for our company.”
Walmart CEO, on the earnings call
Forward Guidance & Outlook
Walmart raised its full-year FY26 guidance: net sales growth now expected at 3.75% to 4.75% in constant currency (up from 3.0% to 4.0%), and adjusted EPS raised to $2.52 to $2.62 (from $2.50 to $2.60, including $0.02 to $0.03 currency headwind). Adjusted operating income growth guidance remains unchanged at 3.5% to 5.5% in constant currency. For Q3 FY26, the company expects net sales to increase 3.75% to 4.75% in constant currency (including ~20 bps VIZIO tailwind), operating income to increase 3.0% to 6.0% in constant currency (including ~140 bps VIZIO headwind), and adjusted EPS of $0.58 to $0.60. Capital expenditures are expected at approximately 3.0% to 3.5% of net sales for FY26, with effective tax rate of approximately 23.5% to 24.5%.
WMT YoY Financials
WMT Revenue by Segment
WMT Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.