Walmart Inc
Q1 2027 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.28%.
Did WMT Beat Earnings? Q1 2027 Results
Walmart kicked off fiscal 2027 on solid footing, posting first-quarter adjusted EPS of $0.66, a hair above the $0.66 consensus estimate, while revenue of $175.68 billion grew 6.1% year over year and edged past analyst expectations by 0.48%, underscoring the retail giant's continued resilience across its sprawling business. The clearest engine behind the results was a 26% surge in global eCommerce sales, which now account for 23% of total net sales, with store-fulfilled pickup and delivery channels doing much of the heavy lifting alongside a 37% jump in global advertising revenue. Walmart U.S. comparable sales rose 4.1% excluding fuel, driven by broad-based share gains that were particularly pronounced among upper-income households and a general merchandise segment that recorded its strongest share gains in five years. Analysts had been watching Walmart closely given broader uncertainty around consumer spending and tariff dynamics, and the company's decision to reiterate its full-year guidance unchanged, including adjusted EPS of $2.75 to $2.85 and net sales growth of 3.5% to 4.5% in constant currency, signals management's confidence heading into Q2.
- Global eCommerce sales grew 26%, representing 23% of total net sales
- Global advertising business up 37%, Walmart U.S. advertising up 36%, Walmart Connect up 44% ex-VIZIO
- Membership fee revenue grew 17.4% globally
- Walmart U.S. comp sales +4.1% driven by 3.0% transaction growth
- Broad-based share gains across categories and income tiers, led by upper-income households
- Store-fulfilled delivery grew approximately 45% in Walmart U.S.
- Marketplace sales up nearly 50%, best performance in 10 quarters
- China net sales grew 22.3% in constant currency with strong Lunar New Year performance
- Expedited deliveries under 3 hours represented approximately 36% of store-fulfilled orders
- Gross profit rate improved 6 bps to 24.3% from favorable merchandise and business mix
- Higher fuel costs in distribution and fulfillment created approximately 250 bps headwind to operating income growth
“Our results reflect our continued focus on delivering across the enterprise — better shopping experiences, a broader assortment, and faster delivery. Our teams are adopting innovative technologies, driving productivity through automation, and growing higher-margin commerce solutions. It's a disciplined approach that's helping us grow the business and strengthen returns.”
Walmart CEO, on the earnings call
Forward Guidance & Outlook
Walmart reiterated its full fiscal year 2027 guidance unchanged from the original February 2026 outlook: net sales growth of 3.5% to 4.5% in constant currency, adjusted operating income growth of 6.0% to 8.0% in constant currency, adjusted EPS of $2.75 to $2.85, interest net increase of approximately $200M to $300M, effective tax rate of approximately 23.5% to 24.5%, and capital expenditures of approximately 3.5% of net sales. For Q2 FY27, the company expects net sales growth of 4.0% to 5.0% in constant currency, operating income growth of 7.0% to 10.0% in constant currency, and adjusted EPS of $0.72 to $0.74. Guidance does not assume any impact from IEEPA tariff refunds.
WMT YoY Financials
WMT Revenue by Segment
WMT Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.