eCommerce up 16% globally

GAAP EPS of $0.65; Adjusted EPS of $0.66

Company provides outlook for Q1 and FY26

Walmart Inc. (NYSE: WMT):

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Fourth Quarter Highlights:

• Revenue of $180.6 billion, up 4.1%, or 5.3% (cc)
• Gross margin rate up 53 bps, led by Walmart U.S.
• Operating income up $0.6 billion, or 8.3%, adjusted up 9.4% (cc) due to higher gross margins and growth in membership income; also benefited from improved economics in eCommerce
• Global eCommerce sales grew 16%, led by store fulfilled pickup & delivery and U.S. marketplace; growth negatively affected by timing of Flipkart’s Big Billion Days sales event (“BBD”)
• Global advertising business grew 29%, including 24% for Walmart Connect in the U.S.
• Adjusted EPS of $0.66 excludes the effect, net of tax, from a net loss of $0.02 on equity and other investments as well as $0.01 from the proceeds of an opioid-related legal settlement
• Completed acquisition of VIZIO

Full Year Highlights:

• Revenue of $681.0 billion, up 5.1%, or 5.6% (cc)
• Global advertising business grew 27% to reach $4.4 billion
• Operating income up $2.3 billion or 8.6%; adjusted up 9.7% (cc), growing faster than sales
• ROA at 7.9%; ROI at 15.5%, up 50 bps
• Global inventory up 2.8%, including an increase of 3.0% for Walmart U.S.; in-stock levels healthy
• Company raises dividend 13% to $0.94 per share; largest increase in over a decade

The company will hold a live conference call with the Investment Community at 7 a.m. CST Thursday, February 20th, 2025, to discuss the company’s fourth quarter and full-year earnings results for fiscal year 2025. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/news/events and selecting the Fourth Quarter Earnings Release event. The webcast will be archived and available on the company website.

About Walmart

Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 270 million customers and members visit more than 10,750 stores and numerous eCommerce websites in 19 countries. With fiscal year 2025 revenue of $681 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

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