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沃尔玛WALMART(WMT)2026财年第四季度及全年业绩报告「NYSE」(英文版)(19页).pdf

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1、Walmart reports Q4 resultsRevenue growth of 5.6%,up 4.9%in constant currency(cc)1Operating income growing faster at 10.8%,up 10.5%adjusted(cc)1eCommerce sales up 24%globallyGAAP EPS of$0.53;Adjusted EPS1 of$0.74Company announces new$30 billion share repurchase authorizationCompany provides outlook f

2、or Q1 and FY27“BENTONVILLE,Ark.,February 19,2026 Walmart Inc.(NASDAQ:WMT)announces fourth-quarter results with strong growth in revenue and adjusted operating income.Globally,eCommerce grew 24%with strength across segments.Walmart U.S.comp sales2 grew 4.6%.Looking ahead,the Company issues guidance f

3、or FY27 with net sales expected to grow 3.5%to 4.5%and adjusted operating income to grow 6.0%to 8.0%,both in constant currency(“cc”)1.Adjusted EPS1 is expected to be$2.75 to$2.85.The pace of change in retail is accelerating.Its exciting.And our financial results show that were not only embracing thi

4、s change,were leading it.For our customers and members,the future is fast,convenient,and personalized.”John FurnerPresident and CEO,WalmartFourth Quarter Highlights Revenue of$190.7 billion,up 5.6%,or 4.9%(cc)1 Global eCommerce sales grew 24%,led by store-fulfilled pickup&delivery and marketplace Gl

5、obal advertising business3 up 37%,including VIZIO;Walmart Connect in the U.S.up 41%Membership fee revenue grew 15.1%globally Gross margin rate up 13 bps,led by Walmart U.S.Operating income up$0.8 billion,or 10.8%;up 10.5%adjusted(cc)1,growing faster than sales Adjusted EPS1 of$0.74 excludes the impa

6、ct,net of tax,from a net loss of$0.21 on equity and other investmentsFull Year Highlights Revenue of$713.2 billion,up 4.7%,or 5.1%(cc)1 Operating income up$0.5 billion or 1.6%;up 5.4%adjusted(cc)1,growing faster than sales Global advertising business3 grew 46%to nearly$6.4billion,including VIZIO ROA

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1. **Q4业绩强劲**:营收1907亿美元(+5.6%),运营收入108%(+10.5% cc),调整后EPS 0.74美元;全球电商销售增24%,广告业务增37%。 2. **全年表现**:营收7132亿美元(+4.7%),运营收入增长快于销售(+5.4% cc),广告业务近64亿美元(+46%)。 3. **业务亮点**:美国同店销售增4.6%,电商贡献显著;国际市场电商增17%,广告增10%;会员费收入全球增15.1%。 4. **未来展望**:FY27营收预期增3.5%-4.5%(cc),调整后运营收入增6.0%-8.0%(cc),调整后EPS 2.75-2.85美元。 5. **资本回报**:ROA 8.2%,ROI 15.1%;自由现金流149亿美元(+23亿美元),新增300亿美元股票回购授权。
**电商增长秘诀?** **利润为何超预期?** **回购计划有何深意?**
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