Walmart associate puts together customer orders.
BENTONVILLE, Ark.-- Walmart Inc. (NYSE: WMT) announces second quarter results, including strong revenue and operating income growth of 5.7% and 6.7%, respectively. The Company sees strength in its omnichannel model across segments with strong comp sales globally, including 6.4%3 for Walmart U.S. The Company raises guidance for FY24 to reflect Q2 upside, confidence in continued business momentum and ongoing customer response to its value proposition.
"We had another strong quarter," stated Doug McMillon, president and CEO, Walmart. "Around the world, our customers and members are prioritizing value and convenience. They’re shopping with us across channels — in stores, Sam’s Clubs, and they’re driving eCommerce, which was up 24% globally. Food is a strength, but we’re also encouraged by our results in general merchandise versus our expectations when we started the quarter. Our associates helped deliver increases in transaction counts and units sold, and profit is growing faster than sales. We’re in good shape with inventory, and we like our position for the back half of the year.”
Second-Quarter Highlights:
-- Consolidated revenue of $161.6 billion, up 5.7%, or 5.4% in constant currency
-- Consolidated gross margin rate up 50bps on lapping elevated markdowns and supply chain costs, partially offset by ongoing mix pressure in grocery and health & wellness
-- Consolidated operating expenses as a percentage of net sales grew 33bps
-- Consolidated operating income up $0.5 billion, or 6.7%, adjusted operating income up 8.1%
-- ROA at 5.6%; ROI at 12.8%, negatively affected by 140bps of discrete charges in Q3 & Q4 FY23
-- Global advertising business grew approximately 35%
-- Walmart U.S. comp sales up 6.4%; eCommerce up 24%, led by pickup & delivery
-- Celebrating the 65th anniversary of Bodega Aurrera stores in Mexico
The company will hold a live conference call with the Investment Community at 7 a.m. CDT Thursday, Aug. 17, 2023, to discuss the company’s second quarter earnings results for fiscal year 2024. The event will be webcast live and is accessible by visiting
https://corporate.walmart.com/newsroom/financial-events and selecting the Second Quarter Earnings Release event. The webcast will be archived and available on the company website.
View the full Q2 release here.