EarningsQ2 2027 Earnings Report
MX:WMT Q2 2027 EPS Results
Actual EPS$13.99
Consensus EPS$12.81
Beat/MissBeat by +$1.17
One Year Ago EPS$11.74
MX:WMT Q2 2027 Revenue Results
Actual Revenue$3.24T
Expected Revenue$3.22T
Beat/MissBeat by +$22.37B
YoY Revenue Growth+5.94%
Earnings Announcement Details
QuarterQ2 2027
Date08/20/2026
TimeBefore Open
Conference CallThursday, August 20, 2026
MX:WMT Upcoming Earnings
Walmart's next earnings date is estimated for November 19, 2026, based on past reporting schedules.
Q2 2027 Earnings Call Audio
MX:WMT Q2 2027 Earnings Call
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Q2 2027 Earnings Slide Deck
Q2 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: management reported solid underlying growth across core retail and high-growth digital businesses (global e-commerce +23%, marketplace +52%, advertising +38%), delivered strong adjusted operating income and EPS growth, and raised full-year sales, operating income and EPS guidance while outlining investments in price, automation and platform expansion. Notable near-term headwinds include pharmacy regulatory impacts (~125bps to U.S. comps), significant incremental fuel costs (> $2B), one-time tariff refund effects on operating income (~750bps) and some SG&A and benefit cost pressures. Despite these challenges, the company emphasized durable share gains, improving incremental margins in e-commerce, and strategic use of tariff refunds to drive customer value. On balance, the highlights (growth, margin improvement, raised guidance, platform scale and membership momentum) outweigh the lowlights, which are largely identifiable headwinds or one-time items.Company Guidance
Enterprise Sales Growth at Top of Guidance
Enterprise net sales grew 5% in constant currency, at the top end of guidance (previously 3.5%–4.5%, raised to 4%–5%), driven by e-commerce, Sam's Club and China.
Strong E-commerce Momentum
Global e-commerce net sales grew 23%; Walmart U.S. e-commerce grew 24% (10th consecutive quarter >20%); Sam's Club U.S. e-commerce up 26%; International e-commerce up 19%.
Improving Profitability and Raised Guidance
Adjusted operating income grew 17.4% in constant currency (including tariff refund benefit); adjusted EPS increased over 19%. Company raised full-year operating income guidance to 7.0%–8.5% (from 6%–8%) and EPS guidance to $2.80–$2.87 (from $2.75–$2.85).
Platform & Commerce Solutions Growth
Marketplace sales grew 52%; advertising up 38% (Walmart Connect up 43% in the U.S.); nearly 50% of marketplace business flowed through Walmart Fulfillment Services (up ~400bps year-over-year).
Membership & Marketplace Expansion
Membership revenue grew ~17% globally; Walmart+ delivered double-digit growth and launched in Canada; Sam's Club membership growth (U.S. membership up ~6%), Sam's Club China hit record member counts.
Operational Scale & Automation Gains
3,100 U.S. stores now have some automated freight; over 50% of e-commerce fulfillment volume processed through automated facilities; store-fulfilled fee-based fast deliveries reached an all-time high of 37% and fast delivery grew 48%.
Tariff Refunds Deployed to Price & Customer Experience
Received substantially all of ~ $2.9B in tariff refunds (~0.5% of annual U.S. net sales) and prioritized reinvesting much of the funds into price and customer experience to drive share gains.
AI & Personalization Showing Early ROI
Sparky usage up 70% year-over-year and customers using Sparky spend ~40% more per order, demonstrating AI-driven engagement and higher spend per customer.
Free Cash Flow & CapEx Outlook
Guidance anticipates slightly higher CapEx (~4% of annual net sales) while still targeting double-digit free cash flow growth for the year.
MX:WMT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed