Walmart Q2 2024 Earnings Report
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%.
Walmart
Walmart
Walmart Revenue by Segment
Walmart 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
- Capital expenditures Flat to up slightly v. LY, unchanged from prior guidance
Revenue & Expenses
Visualization of income flow from segment revenue to net income