Walmart 8-K
PositiveEarningsNew guidance
Global eCommerce drove sales growth; higher fuel costs in distribution and fulfillment slowed operating income growth.
Filed 2026-05-21 06:59 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q1 FY27 results with Q2 guidance and FY27 outlook reaffirmed. Total revenue grew 7.3%, led by 26% global eCommerce growth; higher fuel costs reduced operating income growth by 250 bp. Walmart issued Q2 guidance and left its FY27 outlook unchanged; guidance does not assume any impact from IEEPA tariff refunds.
Key Figures
| Metric | Q1 FY27 | Q1 FY26 | Y/Y |
|---|---|---|---|
| Total revenue | $177.8B | $165.6B | +7.3% |
| Net sales | $175.7B | $164.0B | +7.1% |
| Operating income (GAAP) | $7.49B | $7.14B | +5.0% |
| Adjusted operating income (non-GAAP, cc) | $7.50B | $7.14B | +5.1% |
| Net income attributable to Walmart | $5.33B | $4.49B | +18.8% |
| Diluted EPS | $0.67 | $0.56 | +19.6% |
| Adjusted EPS (non-GAAP) | $0.66 | $0.61 | +8.2% |
| Operating cash flow | $4.74B | $5.41B | -12.4% |
| Free cash flow (non-GAAP) | $(1.95)B | $425M | n/m |
- Global eCommerce sales rose 26%; Walmart U.S. comparable sales increased 4.1%. Higher fuel costs in distribution and fulfillment were a 250 bp headwind to operating income growth.
- Operating cash flow fell mainly due to the timing of inventory receipts. Free cash flow also reflected a $1.7B increase in capital expenditures supporting omnichannel growth.
- Cash was $10.7B and total debt was $58.1B, including short-term borrowings, long-term debt and finance lease obligations. Walmart issued $4.25B of long-term debt for general corporate purposes, repurchased 16.6M shares for $2.1B, and had $28.2B remaining under its repurchase authorization; diluted weighted-average shares declined 0.6% Y/Y.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Net sales (cc) | Q2 FY27 | Increase 4.0%-5.0% | — | — |
| Operating income (cc; adjusted growth basis) | Q2 FY27 | Increase 7.0%-10.0% | — | — |
| Adjusted EPS (non-GAAP) | Q2 FY27 | $0.72-$0.74 | — | — |
| Net sales (cc) | FY27 | Increase 3.5%-4.5% | Increase 3.5%-4.5% | Reaffirmed |
| Adjusted operating income (non-GAAP, cc) | FY27 | Increase 6.0%-8.0% | Increase 6.0%-8.0% | Reaffirmed |
| Interest, net | FY27 | Increase $200M-$300M | Increase $200M-$300M | Reaffirmed |
| Effective tax rate | FY27 | 23.5%-24.5% | 23.5%-24.5% | Reaffirmed |
| Adjusted EPS (non-GAAP) | FY27 | $2.75-$2.85 | $2.75-$2.85 | Reaffirmed |
| Capital expenditures | FY27 | ≈3.5% of net sales | ≈3.5% of net sales | Reaffirmed |
Investor Takeaways
- Watch Q2 net sales, operating income and adjusted EPS against the guided ranges; FY27 performance will be measured against the unchanged annual outlook.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3