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Apr 30, 2023
Walmart Q1 2024 Earnings Report
Walmart's Q1 2024 earnings showcased strong revenue growth and operating income gains.
Key Takeaways
Walmart's first quarter results revealed a robust performance, marked by a 7.6% increase in revenue and a 17.3% surge in operating income. The company's eCommerce sales grew by 26% globally, and Walmart U.S. comp sales increased by 7.4%.
Consolidated revenue increased by 7.6% to $152.3 billion.
eCommerce sales grew by 26% globally.
Walmart U.S. comp sales increased by 7.4%.
Adjusted EPS was $1.47.
Walmart
Walmart
Walmart Revenue by Segment
Walmart Revenue by Geographic Location
Revenue by Segment
Walmart U.S. Revenue
CapyFin.comWalmart International Revenue
CapyFin.comSam's Club U.S. Revenue
CapyFin.comMembership & Other Income Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The following guidance reflects the Company’s expectations for the second quarter and fiscal year 2024 and is provided on a non-GAAP basis.
Positive Outlook
- Q2 Consolidated net sales (cc) Increase approximately 4.0%
- FY 2024 Consolidated net sales (cc) Increase approximately 3.5%
- FY 2024 Consolidated operating income (cc) Increase approximately 4.0%-4.5%, including an expected 100bps impact from LIFO
- FY24 Adjusted EPS $6.10 to $6.20, including an expected $0.14 impact from LIFO
- Capital expenditures Flat to up slightly v. LY, unchanged from prior guidance
Challenges Ahead
- Q2 Consolidated operating income (cc) Decline approximately 2.0%
- FY 2024 Interest, net Increase approximately $600M v. LY
- FY 2024 Effective tax rate Approximately 26.5%
- FY 2024 Non-controlling interest Approximately $0.20 headwind to EPS v. LY
- Guidance assumes a generally stable consumer and continued pressure from its mix of products and formats globally.
Revenue & Expenses
Visualization of income flow from segment revenue to net income