OpenNashEarnings

Retail · Nasdaq: WMT

Walmart earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends January · next results expected around 19 Nov 2026

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q2 FY2027

Walmart reported second-quarter revenue of $187.9 billion, up 5.9%, with GAAP EPS of $0.80 and Adjusted EPS of $0.81, and raised its FY27 outlook.

Walmart's second quarter revenue was $187.9 billion, up 5.9% (5.1% in constant currency). Global eCommerce grew 23% and advertising grew 38%. Operating income rose 28.8%, or 17.4% on an adjusted constant-currency basis, helped by tariff refunds. Walmart U.S. comparable sales rose 2.6%, held back by a roughly 125 bps pharmacy price headwind. Diluted EPS fell to $0.80 from $0.88, and Adjusted EPS rose to $0.81.

Read the Q2 FY2027 summary →Q2 FY2027 slides (PDF) ↗Official transcript (PDF) ↗

Quarters

KPI history

Revenue$187.9B+5.9% y/yQ2 FY27
Q3 FY25: $169.6BQ3 25$169.6BQ4 FY25: $180.6B (worked out from the annual figure)Q4 25$180.6BQ1 FY26: $165.6BQ1 26$165.6BQ2 FY26: $177.4BQ2 26$177.4BQ3 FY26: $179.5BQ3 26$179.5BQ4 FY26: $190.7B (worked out from the annual figure)Q4 26$190.7BQ1 FY27: $177.8BQ1 27$177.8BQ2 FY27: $187.9BQ2 27$187.9B

Fourth quarter worked out from the annual figure.

Data
Q3 FY25$169.6B
Q4 FY25$180.6B *
Q1 FY26$165.6B
Q2 FY26$177.4B
Q3 FY26$179.5B
Q4 FY26$190.7B *
Q1 FY27$177.8B
Q2 FY27$187.9B
Diluted EPS (GAAP)$0.80−9.1% y/yQ2 FY27
Q3 FY25: $0.57Q3 25$0.57Q1 FY26: $0.56Q1 26$0.56Q2 FY26: $0.88Q2 26$0.88Q3 FY26: $0.77Q3 26$0.77Q1 FY27: $0.67Q1 27$0.67Q2 FY27: $0.80Q2 27$0.80
Data
Q3 FY25$0.57
Q1 FY26$0.56
Q2 FY26$0.88
Q3 FY26$0.77
Q1 FY27$0.67
Q2 FY27$0.80

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin5.0%+0.9 pts y/yQ2 FY27
Q3 FY25: 4.0%Q3 254.0%Q4 FY25: 4.4%Q4 254.4%Q1 FY26: 4.3%Q1 264.3%Q2 FY26: 4.1%Q2 264.1%Q3 FY26: 3.7%Q3 263.7%Q4 FY26: 4.6%Q4 264.6%Q1 FY27: 4.2%Q1 274.2%Q2 FY27: 5.0%Q2 275.0%
Data
Q3 FY254.0%
Q4 FY254.4%
Q1 FY264.3%
Q2 FY264.1%
Q3 FY263.7%
Q4 FY264.6%
Q1 FY274.2%
Q2 FY275.0%
Free cash flow$7.5B+14.7% y/yQ2 FY27
Q3 FY25: $372.0MQ3 25$372.0MQ4 FY25: $6.4BQ4 25$6.4BQ1 FY26: $425.0MQ1 26$425.0MQ2 FY26: $6.5BQ2 26$6.5BQ3 FY26: $1.9BQ3 26$1.9BQ4 FY26: $6.1BQ4 26$6.1BQ1 FY27: -$1.9BQ1 27-$1.9BQ2 FY27: $7.5BQ2 27$7.5B
Data
Q3 FY25$372.0M
Q4 FY25$6.4B
Q1 FY26$425.0M
Q2 FY26$6.5B
Q3 FY26$1.9B
Q4 FY26$6.1B
Q1 FY27-$1.9B
Q2 FY27$7.5B

Operating cash flow minus capital expenditure, from cash flow statements.

Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27
Revenue$169.6B$180.6Bd$165.6B$177.4B$179.5B$190.7Bd$177.8B$187.9B
Operating income$6.7B$7.9Bd$7.1B$7.3B$6.7B$8.7Bd$7.5B$9.4B
Operating margin4.0%4.4%4.3%4.1%3.7%4.6%4.2%5.0%
Net income$4.6B$5.3Bd$4.5B$7.0B$6.1B$4.2Bd$5.3B$6.4B
Diluted EPS$0.57—$0.56$0.88$0.77—$0.67$0.80
Operating cash flow$6.6Bd$13.5Bd$5.4B$12.9Bd$9.1Bd$14.1Bd$4.7B$15.0Bd
Capital expenditure$6.2Bd$7.1Bd$5.0B$6.4Bd$7.2Bd$8.0Bd$6.7B$7.5Bd
Free cash flow$372.0M$6.4B$425.0M$6.5B$1.9B$6.1B-$1.9B$7.5B

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings