Walmart Tops Q1 Profit Estimates, Affirms Full-Year Forecasts

Walmart (WMT) shares rose in premarket trading Thursday after the retail giant’s fiscal 2026 first-quarter profit came in better than analysts had expected and it backed its full-year projections.

The world’s largest retailer reported adjusted earnings per share (EPS) of $0.61 on revenue that increased 2.5% to $165.61 billion. Analysts surveyed by Visible Alpha had expected $0.58 and $165.99 billion, respectively.

“We delivered a solid first quarter in a dynamic operating environment,” Walmart CEO Doug McMillon said, adding that the retailer is “well positioned, maintaining flexibility to navigate the near-term while continuing to invest to create value for the long-term.”

Walmart kept its fiscal 2026 guidance in place, and said it expects second-quarter net sales to increase by 3.5% to 4.5% in constant currency. Last quarter, the company said it expected 3% to 4% net sales growth from fiscal 2025’s $674.5 billion, and adjusted EPS of $2.50 to $2.60 versus $2.51.

“Given the dynamic nature of the backdrop, and the range of near-term outcomes being exceedingly wide and difficult to predict, we felt it best to hold from providing a specific range of guidance for operating income growth and EPS for the second quarter,” CFO John David Rainey said. “With a longer view into the full year, we believe we can navigate well and achieve our full year guidance.”

Shares were up nearly 3% in the minutes after the report was released. They entered the day up 7% so far this year.

Ahead of Thursday’s report, analysts said they expected a solid first quarter, but noted that the rest of the year will be more uncertain as Walmart and other retailers feel the impact of the Trump administration’s tariffs.