WMT · 10-Q · 2026Q3

Walmart Inc.

Filed 2026-08-28 · Consumer · View original filing on EDGAR

Ranked Events

• Capital Expenditures ProgramImportance 73 · Surprise 66
  Walmart invested $14.181 billion in capital expenditures during the six months ended July 31, 2026, up from $11.409 billion in the prior-year period, an increase of approximately 24%. U.S. spending included $7.659…
• Liquidity and Debt PositionImportance 61 · Surprise 32
  Cash and cash equivalents increased to $11.5 billion at July 31, 2026 from $9.4 billion a year earlier, while the working capital deficit widened to $26.9 billion from $21.5 billion. Total outstanding long-term debt…
• Geographic Market CommentaryImportance 60 · Surprise 40
  Walmart International net sales increased 15.3% year over year for the six months ended July 31, 2026, supported by positive comparable sales across international markets and strong eCommerce growth. Management…
• Capital Expenditures and Free Cash FlowImportance 59 · Surprise 48
  Capital expenditures increased 24.3% to $14.2 billion for the six months ended July 31, 2026, from $11.4 billion in the prior-year period. U.S. spending included $7.7 billion for supply chain, customer-facing…
• E-commerce and Omnichannel GrowthImportance 53 · Surprise 48
  Consolidated eCommerce net sales grew 23% in the quarter and 24% for the first six months, primarily driven by store- and club-fulfilled delivery. Walmart U.S. eCommerce contributed approximately 4.9% and 5.1% to…
• Tariff Refunds and Price InvestmentImportance 53 · Surprise 60
  Walmart received approximately $2.9 billion of tariff refunds during the quarter ended July 31, 2026 through the U.S. Customs and Border Protection refund process. The refunds were recorded as a reduction to cost of…
• Operating Income and MarginsImportance 53 · Surprise 48
  Consolidated operating income increased 28.8% to $9.4 billion in the quarter and 17.0% to $16.9 billion for the six months ended July 31, 2026. Operating margin expanded 89 basis points to 5.0% in the quarter and 42…
• Capital Return ProgramImportance 51 · Surprise 50
  Walmart approved a fiscal 2027 annual dividend of $0.99 per share, up from $0.94 in fiscal 2026, payable in four quarterly installments of $0.2475 per share. The company authorized a new $30 billion share repurchase…
• Market Demand TrendsImportance 49 · Surprise 32
  Walmart’s total revenues increased 6.6% year over year to $365.7 billion for the six months ended July 31, 2026, primarily driven by positive comparable sales in U.S. segments and international markets and transaction…
• Revenue Performance and MixImportance 49 · Surprise 32
  Total revenues increased 5.9% to $187.9 billion in the three months ended July 31, 2026, and 6.6% to $365.7 billion in the six months ended July 31, 2026. eCommerce net sales grew 23% to $8.2 billion in the quarter and…
• Trade Policy and TariffsImportance 47 · Surprise 60
  Walmart received approximately $2.9 billion in tariff refunds during the quarter ended July 31, 2026, through the U.S. Customs and Border Protection process for refunds of tariffs paid under the International Emergency…
• Pricing and PromotionsImportance 46 · Surprise 42
  Walmart received approximately $2.9 billion of tariff refunds during the quarter, representing substantially all refunds requested through the U.S. Customs and Border Protection process. The company invested a…
• Gross Margin DriversImportance 45 · Surprise 50
  Consolidated gross profit rate increased 96 basis points to 25.4% in the quarter and 53 basis points to 24.9% for the six months ended July 31, 2026. Approximately $2.9 billion of tariff refunds received during the…
• Regulatory Pharmacy Pricing ImpactImportance 44 · Surprise 60
  Maximum fair price regulation for certain prescription drugs became effective in January 2026. Walmart said the regulation primarily contributed to a decrease in health-and-wellness performance within Walmart U.S.…
• Operating Expense TrendsImportance 37 · Surprise 6
  Consolidated operating expenses increased to $39.8 billion in the quarter and $77.0 billion for the six months ended July 31, 2026, with expense ratios rising 11 and 22 basis points, respectively. Higher self-insured…
• Membership TrendsImportance 36 · Surprise 40
  Membership and other income increased 19.0% year over year for the six months ended July 31, 2026, primarily due to strong global membership-income growth. Walmart U.S. membership fee revenue from Walmart+ grew at a…
• Income Tax Rate ChangesImportance 30 · Surprise 40
  The effective income tax rate declined to 18.5% in the quarter ended July 31, 2026 from 23.3% in the prior-year quarter. The six-month effective tax rate decreased to 20.7% from 23.0%. Walmart attributed both…
• Supply Chain and InventoryImportance 23 · Surprise 24
  Walmart imports less than one-third of the products it sells in the United States, with most imports sourced from China, Vietnam, Mexico, India and Canada. Supply-chain conditions influenced pricing and merchandising…
• Guidance / OutlookImportance 20 · Surprise 6
  Walmart believes its operating cash flows, current cash position, short-term borrowings and access to capital markets will remain sufficient to fund operations and anticipated investments for at least the next 12…
• FX / Currency HeadwindsImportance 20 · Surprise 24
  Currency exchange-rate fluctuations increased consolidated net sales by $1.5 billion for the three months ended July 31, 2026 and $3.9 billion for the six months ended July 31, 2026. Walmart International net sales…

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Revenue by Geography (in millions)