Walmart Posts Strong Revenue Growth

• Strong revenue growth of 6.0% with operating income growing faster at 9.6%; adjusted operating income up 13.7%1 
• eCommerce up 21% globally, led by store-fulfilled pickup & delivery and marketplace
• GAAP EPS of $0.63; Adjusted EPS of $0.601
• Company issues guidance for Q2; updates outlook for FY25

Walmart Inc. (NYSE: WMT) announces first quarter results with strong growth in revenue and operating income. Globally, eCommerce penetration is higher across all markets led by store-fulfilled pickup & delivery and marketplace. Walmart U.S. comp sales up 3.8%2. Looking ahead, the Company issues guidance for the second quarter and expects net sales to increase 3.5% to 4.5% and operating income to grow 3.0% to 4.5%, in constant currency (“cc”)1 . The Company now expects to be at the high-end or slightly above its previous guidance (cc) for net sales growth of 3.0% to 4.0% and operating income growth of 4.0% to 6.0% for FY25.

First Quarter Highlights

• Consolidated revenue of $161.5 billion, up 6.0%, or 5.8% (cc)1 , including a benefit of ~1% from an additional selling day 
• Consolidated gross margin rate up 42bps due to improvements across segments, led by Walmart U.S.
• Consolidated operating income up $0.6 billion, or 9.6%; adjusted operating income up 13.7%1 , due to higher gross margins and growth in membership income
• Global eCommerce sales grew 21%, led by store fulfilled pickup & delivery and marketplace
• Global advertising business3 grew 24%, including 26% for Walmart Connect in the U.S.
• Adjusted EPS1 of $0.60 excludes the effect, net of tax, from a net gain of $0.05 on equity and other investments and business reorganization charges of $0.02 
• Global inventory down 2.7%, including a decrease of 4.2% for Walmart U.S.; in-stock levels healthy

"Our team delivered a great quarter. Around the world our goal is simple - we’re focused on saving our customers both money and time. It’s inspiring to see how our associates are simultaneously executing the fundamentals and innovating to make shopping with us more enjoyable and convenient. We’re people-led and tech-powered, and that combination is propelling our business.” Doug McMillon President and CEO, Walmart.

Source : Walmart

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