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Walmart Inc [WMT] has reported a $4.5 billion profit for Q2 that ended July 31, 2024, a decrease of $600 million from the previous quarter.
The company said in its 8-K filing to the SEC dated August 15, 2024, that it generated revenue of $169.3 billion, an increase of $7.8 billion from the last quarter.
Walmart headquartered in Bentonville, Arkansas, reported $0.67 earnings per share during the quarter, compared to $0.63 in the previous period.
The global retailer has been hit by an 11.8 percent decline in profit despite the 4.8 percent revenue growth over the first quarter that ended on April 30.
Walmart’s revenue in the current period showed a 6% increase from $152.3 billion in the last quarter. Its profit showed an increase of 205.1% from $1.7 billion in the previous quarter.
When compared to the same quarter in the previous year, the company’s revenue increased 4.8 percent from $161.6 billion.
Walmart’s asset base slightly declined to $254.4 billion in the second quarter of fiscal 2025 from $255.1 billion in the same quarter of the previous year. while the total liabilities also declined to $95.2 billion $99.2 billion.
The company also reported an operating cash flow of $7.3 billion in the three months that ended on July 31, 2024, from $4.2 billion in the previous quarter.
The Company’s fiscal third quarter guidance projects the net sales to increase by up to 4.25 percent and consolidated operating income to go up by up to 4.5 percent. The Adjusted EPS is expected to be in the range of $0.51 to $0.52.
For fiscal 2025, the company envisages up to 4.75 percent increase in net sales and up to 8 percent increase in operating income. The fiscal 2025 EPS is estimated between $2.35 and $2.43.
In its last fiscal 2024 annual report, the company had said that Walmart U.S. segment faces stiff competition from “brick and mortar, eCommerce and omni-channel retailers operating discount, department, retail and wholesale grocers, drug, dollar, variety and specialty stores, supermarkets, hypermarkets and supercenter-type stores, social commerce platforms, as well as companies that offer services in digital advertising, fulfillment and delivery services, health and wellness and financial services.”
Walmart U.S. is the company’s largest segment operating in the U.S., including in all 50 states, Washington D.C. and Puerto Rico, the reports says. As a mass merchandiser of consumer products, Walmart U.S. operates under the "Walmart" and "Walmart Neighborhood Market" brands, including walmart.com.
Walmart U.S. had net sales of $441.8 billion for fiscal 2024, representing 69% of our fiscal 2024 consolidated net sales, and had net sales of $420.6 billion and $393.2 billion for fiscal 2023 and 2022, respectively.
The company continued to invest in supply chain automation and utilize 162 distribution facilities which are located strategically throughout the U.S. For fiscal 2024, the majority of Walmart U.S.'s purchases of store merchandise were shipped through these facilities.
The report said the company was shipping merchandise purchased by customers on our eCommerce platforms from our 30 dedicated eCommerce fulfillment centers, while leveraging direct delivery from more than 4,300 stores
In the meantime, Walmart International operates in 18 countries outside of the U.S. through wholly owned subsidiaries in Canada, Chile, China, and Africa (which includes Botswana, Lesotho, Malawi, Mozambique, Namibia, South Africa, Eswatini, and Zambia), and majority-owned subsidiaries in India, as well as Mexico and Central America (which includes Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua).
Walmart International had net sales of $114.6 billion for fiscal 2024, representing 18% of the company’s consolidated net sales, and had net sales of $101 billion for both fiscal 2023 and 2022. The gross profit rate of Walmart International is slightly lower than that of Walmart U.S. primarily because of its format and channel mix.
Walmart International has 176 distribution facilities located in Canada, Central America, Chile, China, India, Mexico and Africa. The company claimed it processes and distributes both imported and domestic products through these centers.