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Walmart (WMT) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jun 6, 2025
Walmart (WMT) reported revenue of $165.6B for the first quarter fiscal 2026 (Q1 FY26), +3% from a year earlier and -8% from the quarter before. Operating margin was 4.3%, net earnings $4.5B (2.7% of revenue).
Walmart, Q1 FY26: revenue $165.6B (+2% year over year), operating margin 4.3%, net earnings $4.5B, operating cash flow $5.4B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $165.6B | -8% | +3% |
| Operating profit | $7.1B | -9% | +4% |
| Net earnings | $4.5B | -15% | -12% |
| Operating cash flow | $5.4B | -60% | +27% |
| Free cash flow | $425M | -93% | — |
What changed
Revenue was $165.6B in Q1 FY26, up 3% year over year and down 8% from the previous quarter.
Operating profit was $7.1B, a 4.3% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, above the 4% margin then. Total costs grew 2% against revenue growth of 3%. Net earnings were $4.5B, down 12% year over year. The effective tax rate was 22.6%.
Operating cash flow was $5.4B (up 27% year over year), 117% of net income including minority interests. Non-cash charges added back $3.4B of depreciation and amortization. Working capital and other items used $2.6B. Capital expenditures of $5.0B left free cash flow of $0.42B.
Questions
What was Walmart's revenue in the first quarter fiscal 2026?
Walmart (WMT) reported revenue of $165.6B for the first quarter fiscal 2026 (Q1 FY26), +3% from a year earlier and -8% from the quarter before.
Was Walmart profitable in the first quarter fiscal 2026?
Operating profit was $7.1B (4.3% of revenue) and net earnings $4.5B.
Source: Walmart 10-Q on SEC EDGAR.