NASDAQ$WMT
Walmart Inc. · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Walmart's Q1 2023 results were impacted by unusual environment and inflation, leading to lower-than-expected bottom-line results, though top-line growth remained strong.
Walmart's Q1 2023 total revenue increased by 2.4% to $141.6 billion. Walmart U.S. comp sales grew by 3.0%, and Sam's Club comp sales increased by 10.2%. The bottom-line results were unexpected and reflect the unusual environment.
- Total revenue increased 2.4% to $141.6 billion.
- Walmart U.S. comp sales grew 3.0%.
- Sam's Club comp sales increased 10.2%.
- Consolidated operating income decreased 23.0% to $5.3 billion.
Headline financials
Revenue & EPS history
Walmart · Revenue · Quarterly
$142B
Revenue by segment
Walmart · $142B total across 4 segments · Q1 2023
- Walmart U.S.$96.9B+4.0%68.5%
- Walmart International$23.8B-13.0%16.8%
- Sam's Club U.S.$19.6B+17.5%13.9%
- Membership & Other$1.28B+11.3%0.9%
Forward guidance
The company provides updated outlook for Q2 and full year, assuming a generally stable consumer in the U.S., higher supply chain costs, continued pressure from inflation, and mix of products and formats globally.
Tailwinds
- Consolidated net sales are expected to increase over 5%.
- Walmart U.S. comp sales are expected to increase 4% to 5%, excluding fuel.
- Capital expenditures will focus on supply chain, automation, customer-facing initiatives and technology.
- Consolidated net sales are expected to increase about 4% in constant currency.
- Excluding divestitures, consolidated net sales are expected to increase 4.5% to 5%.
Headwinds
- Consolidated operating income is expected to be flat to up slightly.
- EPS is expected to be flat to up slightly.
- Consolidated operating income is expected to decrease about 1% in constant currency.
- Excluding divestitures, consolidated operating income is expected to be flat versus last year.
- EPS is expected to decrease about 1%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-0.3%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.0%
Avg return
30 days after
39%
28 / 72 earnings
Positive
+10.6%
Q1 2017
Best reaction
-17.4%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | +0.7% | — | — | |
| Q4 2026 | -1.4% | +0.1% | -6.0% | |
| Q3 2026 | +5.9% | +6.4% | +13.7% | |
| Q2 2026 | -4.2% | -6.4% | -0.2% | |
| Q1 2026 | -0.5% | +1.0% | -2.5% | |
| Q4 2025 | -6.5% | -6.1% | -17.3% | |
| Q3 2025 | +3.7% | +7.6% | +11.1% | |
| Q2 2025 | +7.0% | +8.6% | +17.4% | |
| Q1 2025 | +8.1% | +8.9% | +12.0% | |
| Q4 2024 | +2.0% | +3.1% | +8.2% | |
| Q3 2024 | -8.5% | -8.2% | -10.0% | |
| Q2 2024 | -0.8% | -1.4% | +3.4% | |
| Q1 2024 | +0.3% | -0.8% | +4.0% | |
| Q4 2023 | -1.5% | -2.7% | -4.0% | |
| Q3 2023 | +7.3% | +8.6% | +5.0% | |
| Q2 2023 | +5.2% | +3.3% | +0.7% | |
| Q1 2023 | -17.4% | -19.6% | -18.6% | |
| Q4 2022 | +3.3% | +2.2% | +8.9% | |
| Q3 2022 | -3.4% | -3.1% | -2.4% | |
| Q2 2022 | -1.1% | +0.5% | -3.8% | |
| Q1 2022 | +2.2% | +2.1% | -0.8% | |
| Q4 2021 | -6.0% | -8.0% | -10.5% | |
| Q3 2021 | -2.2% | -1.4% | -4.2% | |
| Q2 2021 | -2.3% | -2.9% | +0.8% | |
| Q1 2021 | -1.7% | -2.6% | -7.6% | |
| Q4 2020 | -0.2% | +0.6% | +1.3% | |
| Q3 2020 | -1.8% | -0.9% | -0.6% | |
| Q2 2020 | +6.4% | +5.5% | +10.6% | |
| Q1 2020 | +1.0% | +1.2% | +9.2% | |
| Q4 2019 | -0.1% | -0.4% | -0.9% | |
| Q3 2019 | -3.8% | -7.3% | -9.5% | |
| Q2 2019 | +8.5% | +6.5% | +4.8% | |
| Q1 2019 | -2.9% | -3.2% | -2.8% | |
| Q4 2018 | -12.7% | -11.3% | -16.8% | |
| Q3 2018 | +8.5% | +7.4% | +8.1% | |
| Q2 2018 | -2.0% | -1.2% | -0.7% | |
| Q1 2018 | +4.9% | +4.5% | +0.2% | |
| Q4 2017 | +3.4% | +4.4% | +0.7% | |
| Q3 2017 | -4.0% | -1.8% | -0.6% | |
| Q2 2017 | -0.2% | -1.3% | -0.1% | |
| Q1 2017 | +10.6% | — | — | |
| Q4 2016 | -2.2% | — | — | |
| Q3 2016 | +5.3% | — | — | |
| Q2 2016 | -4.6% | — | — | |
| Q1 2016 | -5.0% | — | — | |
| Q4 2015 | -2.3% | — | — | |
| Q3 2015 | +4.7% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | -2.2% | — | — | |
| Q4 2014 | -2.3% | — | — | |
| Q3 2014 | +0.4% | — | — | |
| Q2 2014 | -3.0% | — | — | |
| Q1 2014 | -2.5% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | -4.6% | — | — | |
| Q2 2013 | -3.3% | — | — | |
| Q1 2013 | +5.5% | — | — | |
| Q4 2012 | -6.2% | — | — | |
| Q3 2012 | -2.9% | — | — | |
| Q2 2012 | +3.1% | — | — | |
| Q1 2012 | -1.6% | — | — | |
| Q4 2008 | -0.4% | — | — | |
| Q3 2011 | +0.8% | — | — | |
| Q2 2011 | +3.2% | — | — | |
| Q4 2010 | +3.2% | — | — | |
| Q1 2010 | -1.9% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q3 2009 | -1.6% | — | — | |
| Q3 2010 | -1.6% | — | — | |
| Q4 2009 | -0.7% | — | — | |
| Q2 2009 | -0.7% | — | — | |
| Q2 2010 | -0.7% | — | — |
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