WMT · 10-Q · 2026Q2

Walmart Inc.

Filed 2026-05-29 · Consumer · View original filing on EDGAR

Ranked Events

• Capital Return ProgramImportance 96 · Surprise 100
  In February 2026 Walmart approved a new $30.0 billion share repurchase program (effective February 23, 2026) replacing the prior program; as of April 30, 2026, $28.2 billion remained authorized. During the three months…
• Capital Allocation and CapExImportance 72 · Surprise 74
  For the three months ended April 30, 2026, the Company spent $6.684 billion on property and equipment (total capital expenditures), up from $4.986 billion a year earlier, driven by supply chain, customer‑facing…
• Capital ExpendituresImportance 72 · Surprise 74
  Capital expenditures totaled $6,684 million for the three months ended April 30, 2026 versus $4,986 million in the prior-year quarter.,The Company allocated $3,817 million to supply chain, customer-facing initiatives, technology and other, $1,584 million to store and club remodels, and the balance to new stores, expansions and relocations for the period.,Management emphasizes allocating the majority of capital to higher-return areas focused on automation, eCommerce, supply chain and store and club investments to support omnichannel growth.
• Digital Channel and Delivery GrowthImportance 61 · Surprise 66
  eCommerce net sales grew $8.5 billion or 26%, primarily driven by store-fulfilled and club-fulfilled delivery, and materially contributed to the Company's revenue growth. Walmart U.S. eCommerce sales positively…
• Loyalty Program GrowthImportance 55 · Surprise 66
  Membership and other income increased $0.4 billion or 27.0%, reflecting 17.4% growth in membership fee revenue with strength across membership programs globally, including Walmart+ engagement. Sam's Club membership…
• Walmart International RevenueImportance 54 · Surprise 40
  Walmart International net sales increased $5.4 billion, or 18.0%, to $35,110 million for the three months ended April 30, 2026 versus the prior-year period.,The increase was driven primarily by positive comparable sales across international markets, including strong eCommerce growth of $2.0 billion and favorable currency translation that contributed $2.3 billion for the quarter.,Gross profit rate for the segment was flat at 21.1% for the quarter, benefiting from improved eCommerce margins and business mix shifts, while operating expenses as a percentage of net sales decreased 28 basis points due to disciplined cost controls and format mix shifts.,Operating income increased $0.3 billion to $1,602 million for the three months ended April 30, 2026.
• Digital Channel GrowthImportance 53 · Surprise 48
  eCommerce net sales increased $8.5 billion (26%) for the three months ended April 30, 2026, driven primarily by store- and club‑fulfilled delivery. Walmart U.S. eCommerce contributed ~5.2% to U.S. comparable sales and…
• Revenue Performance and MixImportance 53 · Surprise 48
  Total revenues increased $12.1 billion, or 7.3%, to $177,751 million for the three months ended April 30, 2026 versus the prior-year period.,Net sales rose $11.7 billion, or 7.1%, to $175,684 million for the three months ended April 30, 2026, driven by strong comparable sales in U.S. segments and international markets and growth in transactions.,eCommerce net sales grew $8.5 billion, or 26%, for the three months ended April 30, 2026, primarily driven by store- and club-fulfilled delivery.,Currency exchange rate fluctuations positively affected net sales by $2.3 billion for the three months ended April 30, 2026, and membership and other income increased $0.4 billion, or 27.0%, reflecting 17.4% growth in membership fee revenue globally.
• Operating Cash Flow TrendsImportance 51 · Surprise 64
  Free cash flow (defined as net cash provided by operating activities less payments for property and equipment) was negative $1.946 billion for the three months ended April 30, 2026, a decrease of $2.4 billion versus…
• Liquidity and Cash PositionImportance 48 · Surprise 40
  Cash and cash equivalents were $10.7 billion at April 30, 2026 (up from $9.3 billion a year earlier) and the Company reports a working capital deficit of $26.2 billion as of April 30, 2026 driven by timing of payments…
• Operating Expense TrendsImportance 45 · Surprise 50
  Operating expenses as a percentage of net sales increased 33 basis points to 21.2% for the three months ended April 30, 2026, driven primarily by higher depreciation related to capital investments.,The increase also reflected certain business reorganization charges of $0.2 billion within the Walmart U.S. segment and Corporate and higher associate healthcare benefit costs related to increased enrollment and medical cost inflation in the U.S.,Within the Walmart U.S. segment specifically, operating expenses as a percentage of net sales increased 56 basis points for the three months ended April 30, 2026 due to increased depreciation, higher healthcare costs and business reorganization charges.
• Geographic Revenue ShiftImportance 42 · Surprise 40
  Walmart International net sales increased $5.4 billion or 18.0% for the three months ended April 30, 2026, driven by positive comparable sales across international markets, including strong eCommerce growth of $2.0…
• Outstanding IndebtednessImportance 42 · Surprise 14
  Total reported long-term debt outstanding was $40.783 billion as of April 30, 2026 (long-term debt due within one year $3.896 billion; long-term debt $36.887 billion). During the three months ended April 30, 2026 the…
• Regulatory Investigations and LitigationImportance 40 · Surprise 42
  The filing discloses multiple ongoing regulatory investigations and litigation matters referenced in the Condensed Consolidated Financial Statements (Note 5) and Legal Proceedings, including opioid-related litigation…
• Market Demand TrendsImportance 37 · Surprise 32
  Comparable sales showed broad-based demand strength: Walmart U.S. comparable sales increased 4.3% driven by growth in transactions and average ticket, reflecting strength in grocery and general merchandise. Sam's Club…
• Supply Chain Fulfillment and Fuel CostsImportance 25 · Surprise 32
  Higher fuel costs within Walmart's supply chain and increased eCommerce fulfillment costs in the Sam's Club U.S. segment negatively offset gross profit improvements from merchandise mix and higher-margin businesses.…
• Supply Chain Tariff ImpactImportance 24 · Surprise 42
  The Company is participating in the U.S. Customs and Border Protection process for refunds of tariffs paid as importer of record under the International Emergency Economic Powers Act; the timing, amounts and resolution…
• Income Tax Rate ChangesImportance 18 · Surprise 14
  The Company's effective income tax rate was 23.2% for the three months ended April 30, 2026, up from 22.6% for the same period in the prior fiscal year.,The filing states the effective tax rate may fluctuate due to factors including changes in assessment of unrecognized tax benefits, valuation allowances, business operations, acquisitions, investments and the geographic mix of earnings.,Management notes that tax law, administrative practices and intercompany transactions across U.S. and international operations can also affect the effective rate period-to-period.
• Gross Margin DriversImportance 18 · Surprise 14
  Gross profit rate increased 6 basis points to 24.3% of net sales for the three months ended April 30, 2026 versus the prior year, primarily driven by the Walmart U.S. segment.,The Walmart U.S. margin improvement was driven by merchandise mix shifts and growth in higher-margin businesses including advertising, which positively impacted gross profit.,These improvements were partially offset by higher fuel costs in the Company's supply chain and increased eCommerce fulfillment costs in the Sam's Club U.S. segment, which pressured gross margin for those businesses.
• Macroeconomic Factors ImpactImportance 13 · Surprise 6
  Management cites inflationary trends, fluctuations in global currencies, volatility in fuel prices and swings in macroeconomic conditions as drivers of continued uncertainty that may affect results. The company…

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Revenue by Geography (in millions)