Filing Flows › Walmart (WMT) › Guidance history
Walmart (WMT) guidance history: what it guided and what it reported
Walmart gave guidance in 12 earnings releases on file since Nov 16, 2023. Of 5 guided periods since reported, it met or beat its own guidance 4 times (80%). Revenue: 3 of 3, on average +7.0% against the guided midpoint. Its releases raised guidance 7 times and lowered it 0 times.
Revenue
Met or beat 3 of 3 periods (3 above, 0 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY27 | $164.0B (Feb 19, 2026) | $177.8B | above the range | +8.4% |
| Q3 FY26 | $168.0B (Aug 21, 2025) | $179.5B | above the range | +6.8% |
| Q2 FY26 | $167.8B (May 15, 2025) | $177.4B | above the range | +5.7% |
| Q3 FY25 | $159.4B (Aug 15, 2024) | — | — | — |
Adjusted revenue
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $177.8B (Aug 20, 2026) | — | to be reported | — |
| FY27 | $706.4B (May 21, 2026) → reaffirmed $706.4B (Aug 20, 2026) | — | to be reported | — |
| Q2 FY27 | $175.8B (May 21, 2026) | — | — | — |
| FY26 | $674.5B (May 15, 2025) → reaffirmed $674.5B (Aug 21, 2025) → reaffirmed $674.5B (Nov 20, 2025) | — | — | — |
| Q1 FY26 | $159.9B (Feb 20, 2025) | — | — | — |
| FY25 | $642.6B (May 16, 2024) → reaffirmed $642.6B (Aug 15, 2024) → reaffirmed $642.6B (Nov 19, 2024) | — | — | — |
| FY24 | $605.9B (Nov 16, 2023) | — | — | — |
Adjusted operating income
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $7.3B (Aug 20, 2026) | — | to be reported | — |
| FY27 | $31.0B (May 21, 2026) → reaffirmed $31.0B (Aug 20, 2026) | — | to be reported | — |
| Q2 FY27 | $7.9B (May 21, 2026) | — | — | — |
| Q1 FY27 | $7.1B (Feb 19, 2026) | — | — | — |
| Q3 FY26 | $6.7B (Aug 21, 2025) | — | — | — |
| FY26 | $29.5B (May 15, 2025) → reaffirmed $29.5B (Aug 21, 2025) → reaffirmed $29.5B (Nov 20, 2025) | — | — | — |
| Q1 FY26 | $7.1B (Feb 20, 2025) | — | — | — |
| Q3 FY25 | $6.2B (Aug 15, 2024) | — | — | — |
| FY25 | $27.1B (May 16, 2024) → reaffirmed $27.1B (Aug 15, 2024) → reaffirmed $27.1B (Nov 19, 2024) | — | — | — |
| FY24 | $24.6B (Nov 16, 2023) | — | — | — |
Tax rate
Met or beat 1 of 2 periods (1 above, 1 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | 23.5%–24.5% (Aug 20, 2026) | — | to be reported | — |
| FY27 | 23.5%–24.5% (May 21, 2026) | — | to be reported | — |
| FY26 | 23.5%–24.5% (May 15, 2025) → reaffirmed 23.5%–24.5% (Nov 20, 2025) | 24.4% | within the range | +0.4 pts |
| Q3 FY26 | 23.5%–24.5% (Aug 21, 2025) | 25.6% | above the range | +1.6 pts |
| FY24 | 26.5% (Nov 16, 2023) | — | — | — |
Adjusted EPS
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $0.62 (Aug 20, 2026) | — | to be reported | — |
| Q2 FY27 | $0.68 (May 21, 2026) | — | — | — |
| FY27 | $0.72–$0.74 (May 21, 2026) → lowered $0.62–$0.64 (Aug 20, 2026) | — | to be reported | — |
| Q1 FY27 | $0.61 (Feb 19, 2026) | — | — | — |
| Q3 FY26 | $0.58 (Aug 21, 2025) | — | — | — |
| FY26 | $2.51 (May 15, 2025) → lowered $1.00–$2.52 (Aug 21, 2025) → raised $2.58–$2.63 (Nov 20, 2025) | — | — | — |
| Q1 FY26 | $0.60 (Feb 20, 2025) | — | — | — |
| Q3 FY25 | $0.51 (Aug 15, 2024) | — | — | — |
| FY25 | $2.22 (May 16, 2024) → reaffirmed $2.22 (Aug 15, 2024) → reaffirmed $2.22 (Nov 19, 2024) | — | — | — |
| FY24 | $6.40–$6.48 (Nov 16, 2023) | — | — | — |
The latest quarter
Walmart, Q2 FY27: revenue $187.9B (+6% year over year), operating margin 5.0%, net earnings $6.5B, operating cash flow $15.0B. The chart follows the revenue to costs, profit and cash.
Questions
Does Walmart beat its guidance?
Walmart gave guidance in 12 earnings releases on file since Nov 16, 2023. Of 5 guided periods since reported, it met or beat its own guidance 4 times (80%). Revenue: 3 of 3, on average +7.0% against the guided midpoint.
How often does Walmart raise guidance?
Its earnings releases raised guidance 7 times and lowered it 0 times since Nov 16, 2023.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.