Walmart reports strong revenue growth of 4.8% with operating income growing faster at 8.5%; adjusted operating income up 7.2%

eCommerce up 21% globally

GAAP EPS of $0.56; Adjusted EPS of $0.67

Company issues guidance for Q3; Raises outlook for FY25

Walmart Inc. (NYSE: WMT):

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Second Quarter Highlights:

• Consolidated revenue of $169.3 billion, up 4.8%, or 5.0%
• Consolidated gross margin rate up 43 bps, led by Walmart U.S. and Walmart International
• Consolidated operating income up $0.6 billion, or 8.5%; adjusted operating income up 7.2%, due to higher gross margins and growth in membership income; also benefited from reduced eCommerce losses
• ROA at 6.4%, ROI at 15.1%, up 230 bps
• Global eCommerce sales grew 21%, led by store fulfilled pickup & delivery and marketplace
• Global advertising business grew 26%, including 30% for Walmart Connect in the U.S
• Adjusted EPS of $0.67 excludes the effect, net of tax, from a net loss of $0.11 on equity and other investments
• Global inventory down 2.0%, including a decrease of 2.6% for Walmart U.S.; in-stock levels healthy
• Bob Moritz, retired chair of PwC, to join Walmart Inc. Board of Directors

The company will hold a live conference call with the Investment Community at 7 a.m. CST Thursday, August 15, 2024, to discuss the company’s second quarter earnings results for fiscal year 2025. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/news/events and selecting the Second Quarter Earnings Release event. The webcast will be archived and available on the company website.

About Walmart

Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 255 million customers and members visit approximately 10,500 stores and numerous eCommerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting https://corporate.walmart.com, on Facebook at https://facebook.com/walmart, on Twitter at https://twitter.com/walmart, and on LinkedIn at https://www.linkedin.com/company/walmart/.

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