For the nine months (9M) period, total revenues climbed 5.4 per cent YoY to $500.4 billion, supported by net sales of $495.7 billion, up 5.3 per cent compared to 9M FY24, and a 17.7 per cent growth in membership and other income to $4.7 billion, Walmart said in a press statement.
Walmart International has reported Q3 2024 revenue of $169.6 billion, up 5.5 per cent YoY, with net sales rising 5.4 per cent to $168 billion and membership income up 16.1 per cent.
Net income surged 910.4 per cent to $4.6 billion.
For 9M, revenue grew 5.4 per cent to $500.4 billion.
CEO Doug McMillon highlighted the strong performance, with FY25 sales growth projected at 4.8-5.1 per cent.
Operating income for Q3 grew 8.2 per cent YoY to $6.7 billion, while for the 9M period, it rose 8.8 per cent to $21.5 billion, reflecting effective cost management and operational efficiency. However, operating, selling, general, and administrative expenses for Q3 increased by 6.3 per cent YoY to $35.5 billion and by 6.9 per cent to $103.4 billion for 9M 2024.
Net income attributable to Walmart surged significantly in Q3, reaching $4.6 billion, a staggering 910.4 per cent increase from $453 million in Q3 2023. For the 9M period, net income rose by 41.6 per cent to $14.2 billion, compared to $10.0 billion in the same period last year.
Basic and diluted earnings per share (EPS) for Q3 increased to $0.57 from $0.06 in Q3 last year, while for the 9M period, basic EPS grew to $1.76 and diluted EPS to $1.75, reflecting increases of 41.9 per cent and 41.1 per cent, respectively.
Weighted-average common shares outstanding for Q3 were 8.04 billion (basic) and 8.08 billion (diluted). For the 9M period, basic and diluted shares outstanding were 8.04 billion and 8.08 billion, respectively. Dividends declared per common share for the 9M period were $0.83, up from $0.76 in 2023.
“We had a strong quarter, continuing our momentum. Our associates are working hard to save people time and money and to transform our business. In the US, in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that. Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart,” Doug McMillon president and chief executive officer (CEO) of Walmart.
The company, in its guidance for FY25, expects net sales to grow 4.8 per cent to 5.1 per cent and adjusted operating income to grow 8.5 per cent to 9.25 per cent in constant currency.
Fibre2Fashion News Desk (SG)
