Walmart Q2 Revenue Beats as U.S. Sales Lag

Walmart reported Q2 revenue of about $187.9 billion and adjusted EPS of $0.81, with US comp sales of 2.6% (3.4% ex health/wellness) and continued growth in ecommerce and advertising, prompting an upgraded full-year outlook. The release cited slower U.S. comp growth and concerns about consumer health amid higher fuel costs, projecting roughly $2 billion in incremental fuel costs for the year. The company will use about $2.9 billion in tariff refunds to roll back prices on roughly 11,000 items to support price and traffic. Despite beating consensus on revenue and profit, investors pushed shares toward multi-quarter lows amid questions about consumer demand. Analysts have trimmed targets and cautioned about the broader environment, though Walmart maintained an upgraded full-year outlook for sales and EPS. The release also noted intensified competition from off-price retailers, exemplified by Ross Stores’ gains.