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Jul 31, 2023
Walmart Q2 2024 Earnings Report
Walmart's Q2 2024 earnings were marked by strong revenue growth, driven by the omnichannel model and eCommerce.
Key Takeaways
Walmart reported strong second-quarter results, with revenue up 5.7% and operating income growing faster at 6.7%. eCommerce sales increased by 24% globally. The company raised its guidance for FY24, reflecting confidence in business momentum and customer response to its value proposition.
Consolidated revenue increased by 5.7% to $161.6 billion.
Walmart U.S. comp sales increased by 6.4%, with eCommerce up 24%.
Global advertising business grew by approximately 35%.
Consolidated operating income rose by 6.7%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company’s fiscal year guidance is based on the following previously disclosed FY23 figures: Net sales: $605.9 billion, adjusted operating income1: $24.6 billion, and adjusted EPS1: $6.29.
Positive Outlook
- Consolidated net sales (cc) Increase approximately 3.0%
- Consolidated operating income (cc) Increase approximately 1.0%
- Adjusted EPS $1.45 to $1.50
- Consolidated net sales (cc)Increase approximately 4.0% to 4.5%
- Consolidated operating income (cc)Increase approximately 7.0%-7.5%, including an expected 30bps tailwind from LIFO
Challenges Ahead
- Interest, net Increase approximately $500M v. LY
- Effective tax rate Unchanged at 26.5%
- Non-controlling interest Approximately $0.26 headwind to EPS
- Adjusted EPS $6.36 to $6.46, including an expected $0.05 impact from LIFO
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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