Walmart FY27 outlook improved after the retailer reported second-quarter adjusted earnings of 81 cents per share, above the 74-cent consensus estimate, while revenue of $187.9 billion exceeded expectations of $186.82 billion.
How the Walmart FY27 Outlook Balances Growth and Near-Term Pressure
Walmart raised its full-year adjusted earnings forecast to $2.80 to $2.87 per share from $2.75 to $2.85. The revised range remains centered below the $2.90 consensus estimate, leaving investors to weigh stronger operating trends against a more demanding earnings comparison.
The company now expects fiscal 2027 revenue to grow 4% to 5%, compared with its previous projection of 3.5% to 4.5%. It also lifted its adjusted operating-income growth forecast to 7% to 8.5% from 6% to 8% and increased its planned capital expenditures to 4% of net sales from 3.5%.
Digital operations remained a major source of momentum in the quarter. Global e-commerce sales increased 23%, supported by store-fulfilled pickup and delivery and marketplace activity. Walmart’s global advertising business grew 38%, while membership-fee revenue rose 17%.
Operating income increased by $2.1 billion, or 28.8%, while adjusted operating income grew 17.4% on a constant-currency basis. Walmart said tariff refunds contributed to the quarter and were partly offset by price investments. Global inventory rose 6.7%, reflecting strategic initiatives and inflation.
Near-term guidance was more cautious. Walmart forecast third-quarter adjusted earnings of 62 cents to 64 cents per share, below the 68-cent consensus estimate, alongside revenue growth of 3% to 3.75% and operating-income growth of 2% to 4%. The combination suggests the Walmart FY27 outlook rests on continued digital expansion and operating leverage despite a softer quarterly profit comparison.
