Walmart is one of the world’s largest retail companies, offering affordable prices and a diverse range of products. It started in 1962 when Sam Walton opened the first store in Arkansas, and it has since grown into a global business with thousands of locations. Walmart works hard to keep prices low by managing its supply chain efficiently. The company also operates Sam’s Club and has expanded into online shopping to stay competitive in the digital world.
Besides selling products, Walmart focuses on helping communities and protecting the environment. It invests in clean energy, reduces waste, and ensures its products come from responsible sources. The company also provides jobs for millions of people and supports education and career growth. Although Walmart has faced criticism for its size and labor practices, it continues to shape the retail industry and adapt to changes in technology and evolving customer needs.
Walmart Fiscal Q4 2026
Walmart (WMT) reported Q4 and Fiscal year 2026 results. Earnings per share reported $0.74, slightly above the consensus estimate of $0.72 and higher than the prior year’s $0.66.
While revenue came in at $190.7 billion, also ahead of expectations of $190.41 billion and up from $180.55 billion a year earlier.
Highlights
- Revenue $190.7B, up 5.6% (4.9% constant currency)
- Global eCommerce sales up 24%, driven by pickup, delivery, and marketplace
- Global advertising up 37%, Walmart Connect U.S. up 41%
- Membership fee revenue up 15.1% globally
- Gross margin rate up 13 bps, led by Walmart U.S.
- Operating income up $0.8B, or 10.8%, faster than sales
- Adjusted EPS $0.74, excluding $0.21 net loss on investments
- Full‑year revenue $713.2B, up 4.7% (5.1% constant currency)
- Full‑year operating income up $0.5B, or 1.6%, adjusted up 5.4%
- Global advertising grew 46% to nearly $6.4B
- ROA 8.2%, ROI 15.1%, (negatively affected 35 bps by discrete items)
- Global inventory up 4.3% (2.6% constant currency)
- Annual dividend increased to $0.99 per share
- Cash and cash equivalents $10.7B, Total debt $51.5B
- Operating cash flow $41.6B, up $5.1B
- Free cash flow $14.9B, up $2.3B
- Repurchased 85M shares YTD, $8.1B
- Inventory $58.9B, up $2.4B or 4.3%
Outlook
For the first quarter of fiscal 2027, Walmart projects net sales to rise 3.5%–4.5%, operating income to grow 4%–6%, and adjusted EPS to come in at $0.63–$0.65. Resulting Q1 FY26 sales $164B, operating income $7.1B, and $0.61 EPS.
For the full fiscal year 2027, guidance calls for net sales growth of 3.5%–4.5%, adjusted operating income up 6%–8%. Also, net interest expense is increasing by about $200M–$300M, an effective tax rate of 23.5%–24.5%, and adjusted EPS of $2.75–$2.85.
Boards Statements
John Furner, President and CEO of Walmart, emphasized that the pace of change in retail is accelerating and described it as exciting. He noted that Walmart’s financial results demonstrate the company is not only adapting to this transformation but leading it.
According to Furner, the future for customers and members will be fast, convenient, and personalized.
Impact on the Stock Market
Walmart’s shares fell about 2% after earnings were released, even though the company beat expectations on revenue and EPS; its guidance for fiscal 2027 came in weaker than expected.
Walmart’s shares initially dipped after the earnings release because guidance looked soft, but they rebounded once the earnings call gave more clarity and reassurance.
Executives highlighted strong momentum in e‑commerce, advertising, and membership growth, and emphasized that higher‑income shoppers are driving pickup and delivery orders. Management also framed fiscal 2027 as a year of steady growth with operating income expected to rise faster than sales, supported by ongoing investments in technology and efficiency. That upbeat tone and confidence helped calm investor concerns, shifting focus back to Walmart’s long‑term strengths and sparking the stock’s recovery after the call.
