Walmart Inc (WMT.NE) Q2 2026 Earnings Report

Walmart Inc. delivered a robust QQ2 2026 performance with revenue of $177.402 billion, up 4.76% year over year and 7.12% quarter over quarter. The gross profit totaled $44.631 billion, yielding a gross margin of 25.16%, while operating income reached $7.289 billion and net income was $7.026 billion, translating to earnings per share (EPS) of $0.88 for the quarter. Free cash flow (FCF) generation remained strong at $7.956 billion, supported by operating cash flow of $12.941 billion and capital expenditures of $4.986 billion. Net debt stood at roughly $55.6 billion with cash and cash equivalents of about $9.88 billion, underscoring a solid liquidity position and durable capacity for capital allocation. The company also deployed $1.645 billion in share repurchases and paid $1.875 billion in dividends, highlighting a disciplined capital return framework amid a dynamic retail environment.

From a profitability perspective, Walmart’s QQ2 2026 results show a resilient operating margin around 4.11% and a net margin near 3.96%, with YoY EBITDA margins hovering around 7.65%. The year-over-year acceleration in net income and EPS (YoY EPS up ~57%) reflects a favorable mix, ongoing efficiency gains, and the ability to sustain price competitiveness while investing in the omnichannel and membership strategies that support long-term growth. Management commentary (when available) typically emphasizes continued emphasis on price leadership, supply chain efficiency, and investments in e-commerce and store network; however, no formal forward guidance was included in the provided data which necessitates a scenario-based outlook grounded in the quarter’s cash flow strength and balance sheet resilience. Investors should monitor input costs, labor dynamics, domestic versus international performance, and the pace of e-commerce and membership initiatives as primary catalysts for future margin expansion and earnings progression.