eCommerce up 22% globally

GAAP EPS of $0.56; Adjusted EPS of $0.61

Company issues net sales guidance for Q2; reiterates outlook for FY26

Walmart Inc. (NYSE: WMT):

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First Quarter Highlights:

• Revenue of $165.6 billion, up 2.5%, or 4.0% (cc) ; includes ~100 bps headwind from lapping leap day
• Global eCommerce sales grew 22%, led by store-fulfilled pickup & delivery and marketplace
• Global advertising business grew 50%, including VIZIO; Walmart Connect in the U.S. up 31%
• Membership and other income up 3.7%, including 14.8% growth in membership income
• Gross margin rate up 12 bps, led by Walmart U.S.
• Operating income up $0.3 billion, or 4.3% , adjusted up 3.0% (cc) due to higher gross margins and growth in membership income; also benefited from improved economics in eCommerce; includes ~250 bps headwind from lapping leap day
• Adjusted EPS of $0.61 excludes the effect, net of tax, of a net loss of $0.05 on equity and other investments
• ROA at 7.5%; ROI at 15.3%, up 30 bps
• Walmart raises $4 billion in long-term debt for general corporate purposes at favorable rates

The company will hold a live conference call with the investment community at 7 a.m. CST Thursday, May 15th, 2025, to discuss the company’s first quarter earnings results for fiscal year 2026. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/news/events and selecting the First 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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