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Walmart second-quarter financial performance

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2026-08-21 16:52 UTC → 2026-08-21 19:16 UTC · added ~~removed~~

Walmart reported fiscal second-quarter revenue of $187.9 billion, a 5.9% increase year-over-year, surpassing analyst expectations. Adjusted earnings per share reached $0.81, also beating consensus. Following these results, the company raised its full-year net sales growth guidance to a range of 4.0% to 5.0%, up from the previous 3.5% to 4.5% projection, and revised its adjusted earnings per share outlook to a range of $2.80 to $2.87. Despite the revenue growth, the company’s stock experienced a significant decline, dropping as much as 9% to a nine-month low and erasing over $80 billion in market capitalization. This reaction followed reports of its slowest U.S. comparable sales growth in six years; U.S. comparable sales (excluding fuel) rose 2.6%, falling short of the 3.7% to 3.8% consensus. ~~Analysts noted~~ New details indicate that ~~while foot traffic remains relatively steady, the average transaction value grew by only 1.1%, suggesting consumers are spending less per visit~~ pharmacy deflation due to ~~inflationary pressures~~ new price regulations and ~~high~~ consumer pressure from rising fuel ~~costs.~~ costs contributed to this deceleration. Notably, excluding the impact of pharmacy pricing, comparable sales would have risen by 3.4%. Growth remains heavily driven by digital and high-growth sectors. Global e-commerce rose 23%, while U.S. e-commerce sales increased 24%. The advertising business, Walmart Connect, grew 43% (with global advertising revenue specifically noted as increasing 38%). Sam’s Club also showed strength, with comparable sales excluding fuel increasing 4.4%. To offset economic pressures, Walmart is utilizing approximately $2.9 billion in tariff refunds, following a Supreme Court ruling, to invest in lower prices and improved customer experiences, including roughly 11,000 price reductions across groceries and general merchandise. CEO John Furner noted that e-commerce momentum reflects customer demand for “price, speed, and convenience.”

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