Walmart Holds Back Q2 Profit Guidance Despite Upbeat Q1 Earnings

Shares of Walmart Inc.(WMT) were in the spotlight on Thursday after its first quarter (Q1) earnings beat estimates but the company held back from providing profit estimates for the second quarter in light of market uncertainty.  

The company reported first-quarter (Q1) revenue of $165.6 billion, marking a growth of 2.5% year-on-year (YoY) and above an analyst estimate of $164.4 billion, as per Finchat data.

Adjusted earnings per share for the quarter came in at $0.61, up from the $0.60 reported in the corresponding period of fiscal year 2025, and above an analyst estimate of $0.58.

The company now sees a YoY increase in net sales of 3.5% to 4.5% in constant currency in the second quarter (Q2). However, the company held back from providing profit guidance for the quarter, citing uncertainty pertaining to President Trump’s tariffs.

“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.

However, Rainey expressed optimism about the company meeting its full-year guidance, which includes adjusted earnings per share of $2.50 to $2.60 and a YoY net sales increase of 3% to 4% at constant currency.

Walmart U.S. recorded a 3.2% increase in net sales to $112.2 billion in the first quarter, led by health and wellness and grocery sales. The company said eCommerce sales were up 21% in the region, reflecting strength in store-fulfilled pickup and delivery, advertising, and marketplace. Globally, Walmart’s eCommerce sales rose by 22%.

Walmart International, meanwhile, recorded a 0.3% drop in net sales to $29.8 billion, primarily owing to currency rate fluctuations.

WMT stock is up 2% this year and has gained 54% over the past 12 months.

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