WALMART INC.
NYSE: WMT · Consumer Staples
Q1 FY2027 Earnings · Interactive Review
Quarter ended April 30, 2026 · Reported May 21, 2026
NYSE: WMT · Consumer Staples
Quarter ended April 30, 2026 · Reported May 21, 2026
Walmart delivered a solid top-line beat in Q1 FY27, with revenue growing 7.3% YoY to $177.8B. Global eCommerce surged 26%, advertising grew 37%, and comparable sales remained resilient. However, the market sold off post-earnings on a cautious Q2 outlook (adj. EPS $0.72–$0.74 vs. ~$0.75 consensus) amid higher fuel costs and signs of pressure on lower-income shoppers. The post-earnings dip may represent an attractive entry for long-term investors.
"The team delivered strong sales growth for the quarter... Transaction growth in the U.S. was the strongest we've seen in 6 quarters. We're gaining market share... The business is performing how we expect it to."
— John Furner, CEO
"Higher fuel costs represent a meaningful headwind — approximately $175M in Q1 alone — and we expect that pressure to persist or intensify into Q2."
— John David Rainey, CFO
New CEO Furner highlighted omnichannel momentum and ~7,200 rollback price investments, including value grilling bundles, underscoring Walmart's value leadership.
Store-fulfilled delivery more than doubled over two years; over 36% of Walmart U.S. orders delivered in under 3 hours — a key competitive moat.
CFO Rainey flagged that lower-income consumers, while still shopping Walmart, are pulling back on fuel purchases and discretionary items as gas prices exceed $4.60/gallon in some markets.
Pharmacy reimbursement changes (Maximum Fair Price legislation) created an ~100 bps drag on U.S. comp sales — a regulatory headwind expected to persist.
Q4 FY26 vs Q1 FY27
Q1 FY27 YoY % by segment
Q1 FY27 YoY growth %
Relative impact of key tailwinds (+) and headwinds (−) on operating margin outlook
$100 – $115
$68 – $80
Q2 FY2027
* Below consensus ~$0.75 — driver of post-earnings sell-off
Full-Year FY2027
Full-year guidance intact signals H2 recovery confidence
Key Watch Items
Fair Value: $88 – $96
Post-earnings dip offers attractive entry for long-term investors. Walmart's omnichannel moat, advertising flywheel, and scale advantages justify a premium valuation. Near-term fuel headwinds are real but transitory vs. structural eCommerce and ad growth.