WALMART INC Reports 5.7% Increase in Q2 FY2024 Revenue to USD 161.6 Billion

☀️Earnings Overview

On August 17 2023, WALMART INC ($NYSE:WMT) reported total revenue of USD 161.6 billion for Q2 FY2024 which ended on July 31 2023, a 5.7% increase from the same period the year prior. The company also reported net income for the quarter of USD 7.9 billion, a 53.2% increase from the prior year.

Analysis

GoodWhale has conducted an extensive analysis of WALMART INC‘s fundamentals, and found that it is a low risk investment. This conclusion is based on their Risk Rating, which takes into account financial and business aspects. However, for those who want to make sure they make the most informed decision possible, GoodWhale recommends becoming a registered user to check out the business and financial areas with potential risks. With this comprehensive overview, users can make the best decision for themselves and their portfolios. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Walmart Inc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Walmart Inc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Walmart Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Walmart Inc are shown below. More…

Peers

The retail industry is highly competitive, with Walmart Inc competing against Target Corp, Sprouts Farmers Market Inc, and Costco Wholesale Corp. All four companies are vying for market share in the retail sector. Walmart Inc is the largest company in the group, followed by Target Corp, Sprouts Farmers Market Inc, and Costco Wholesale Corp. All four companies are publicly traded on the stock exchange.

– Target Corp ($NYSE:TGT)

Target Corp is an American retail corporation. The company was founded in 1902 and is headquartered in Minneapolis, Minnesota. Target operates 1,851 stores across the United States. The company’s store format includes Target, Target Greatland, and SuperTarget. Target is the second-largest discount retailer in the United States, behind Walmart. The company’s revenue for 2018 was $75.4 billion, and its operating income was $5.9 billion. Target’s net income for 2018 was $3.6 billion, and its total assets were $42.5 billion as of December 31, 2018.

– Sprouts Farmers Market Inc ($NASDAQ:SFM)

Sprouts Farmers Market Inc is a grocery store chain that specializes in selling fresh, natural, and organic food. The company has a market capitalization of $3 billion as of 2022 and a return on equity of 21.14%. Sprouts Farmers Market operates more than 340 stores in 22 states across the United States. The company was founded in 2002 and is headquartered in Phoenix, Arizona.

– Costco Wholesale Corp ($NASDAQ:COST)

Costco Wholesale Corporation is the largest membership warehouse club in the United States. As of 2022, it had a market capitalization of 209.47 billion and a return on equity of 24.62%. Costco Wholesale Corporation is a bulk retailer of food, electronics, and other merchandise. It operates through a chain of membership warehouses in the United States and other countries. Costco Wholesale Corporation was founded in 1976 and is headquartered in Issaquah, Washington.

Summary

Investors should be encouraged by the strong performance of Walmart Inc in the second quarter of FY 2024. Total revenue grew 5.7% year-over-year, reaching a total of USD 161.6 billion. Net income saw an even more impressive 53.2% increase to USD 7.9 billion.

This is an indication that the company is continuing to perform well in a challenging economic environment. Going forward, investors should be focused on Walmart’s ability to maintain its solid profitability and growth.