Fri, Aug 30, 8:52 PM (311 days ago)
Walmart Inc. reported its financial results for the quarter ended July 31, 2024, showing a total revenue increase of 4.8% to $169,335,000 compared to the prior year. Net sales rose 4.7% to $167,767,000, driven by strong performance in the U.S. segment, which reported a 4.2% increase in comparable sales. Operating income improved by 8.5% to $7,940,000, reflecting a gross profit margin increase of 43 basis points to 24.4%. However, consolidated net income fell 41.5% to $4,711,000, primarily due to a significant increase in other losses related to investment valuations. Cash flow from operations decreased to $16,357,000, attributed to timing of payments and increased inventory purchases. Free cash flow also declined to $5,850,000. The company maintained a working capital deficit of $18,800,000, influenced by reduced cash reserves. Walmart's strategic focus remains on enhancing its omni-channel experience and improving margins through productivity initiatives, while navigating uncertainties in the macroeconomic environment, including inflation and supply chain disruptions. The company continues to face legal challenges, particularly related to opioid litigation.