Walmart posted Q2 FY2026 revenue of $177.4 billion, a 4.8% increase, beating LSEG expectations of $176.16 billion. Adjusted EPS was $0.68 and U.S. comparable sales rose 4.6%. Walmart raised its FY26 net sales growth outlook to 3.75%–4.75%, up from the prior 3%–4% range. CFO John David Rainey warned that "tariff-impacted costs are continuing to drift upwards," which could pressure margins if absorbed or force price increases that deter shoppers. Rainey said consumer spending has not yet changed materially. Walmart shares declined following the results, mirroring weakness across major retail stocks.
On Thursday, Walmart posted its second-quarter results for its 2026 fiscal year. Here are the main takeaways: Total revenue: $177.4 billion, up 4.8% Adjusted earnings-per-share (EPS): $0.68 U.S. comparable sales: up 4.6% To put that top number into perspective, LSEG analysts had been expecting total revenue of $176.16 billion, meaning Walmart came in above expectations. In more good news, the company also raised its outlook for its net sales growth for its entire fiscal year 2026.
In an interview with CNBC, Walmart chief financial officer John David Rainey alluded to the elephant in every corporate boardroom across America: President Donald Trump's tariffs. In the interview, Rainey warned that "tariff-impacted costs are continuing to drift upwards" at the company. The higher those costs go, the more likely they are to impact Walmart's bottom line-if the company chooses to absorb the costs-or impact the company's sales, if the retailer needs to raise prices, which could turn shoppers off.
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