Fri, Jun 7, 8:46 PM (136 days ago)
Walmart Inc.'s Q1 financial report for the period ending April 30, 2024, shows strong financial performance with total revenues of $161.5 billion, a 6.0% increase from the previous year. Net sales rose by 5.9% to $159.9 billion, driven by robust comparable sales growth in the U.S. segments and international markets. Gross profit margin improved by 42 basis points to 24.1%, primarily due to effective pricing strategies and inventory management. Operating income increased by 9.6% to $6.8 billion, despite a 40 basis point rise in operating expenses due to higher compensation costs and business reorganization expenses. The Walmart U.S. segment saw a 4.6% increase in net sales to $108.7 billion, with a 4.9% rise in comparable sales, boosted by strong grocery and health and wellness sales. Walmart International's net sales grew by 12.1% to $29.8 billion, supported by positive currency fluctuations and strong eCommerce performance. Sam's Club's net sales increased by 4.6% to $21.4 billion, driven by higher transactions and eCommerce growth. Walmart's effective tax rate decreased to 24.6%, contributing to a significant rise in consolidated net income to $5.3 billion. The company continues to maintain strong liquidity, with $9.4 billion in cash and cash equivalents, and has renewed its $15 billion credit facility. Walmart repurchased $1.1 billion in shares and paid $1.7 billion in dividends during the quarter.