BENTONVILLE, AK - Walmart Inc. announces fourth-quarter results with strong growth in revenue and operating income. Globally, eCommerce grew 16% with penetration up across all segments. Walmart U.S. comp sales up 4.6% with positive growth in general merchandise. Looking ahead, the Company issues guidance for FY26 with net sales expected to grow 3% to 4% and adjusted operating income in constant currency to grow 3.5% to 5.5%, including a headwind of 150 basis points from the acquisition of VIZIO Holding Corp. and lapping leap year.

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 tohigher 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

"Our team finished the year with another quarter of strong results. We have momentum driven by our low prices, a growing assortment, and an eCommerce business driven by faster delivery times. We’re gaining market share, our top line is healthy, and we’re in great shape with inventory. We’ll stay focused on growth, improving operating margins, and strengthening ROI as we invest to serve our customers and members even better," said Doug McMillon, President and CEO of Walmart, in a recent press release.

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.

To view the full report, see here.