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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Michael Lasser | UBS | 8 questions · 50% challenging |
| Simeon Gutman | Morgan Stanley | 8 questions · 38% challenging |
| Kate McShane | Goldman Sachs | 8 questions · 0% challenging |
| Chris Horvers | JPMorgan | 7 questions · 29% challenging |
| Greg Melich | Evercore ISI | 6 questions · 0% challenging |
| Seth Sigman | Barclays | 6 questions · 0% challenging |
| Kelly Bania | BMO Capital Markets | 5 questions · 0% challenging |
| Paul Lejuez | Citigroup | 4 questions · 0% challenging |
| Robbie Ohmes | Bank of America | 4 questions · 0% challenging |
| Chuck Grom | Gordon Haskett | 3 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Goldman Sachs | 1 analyst | 8 questions · 0% challenging |
| Morgan Stanley | 1 analyst | 8 questions · 38% challenging |
| UBS | 1 analyst | 8 questions · 50% challenging |
| JPMorgan | 1 analyst | 7 questions · 29% challenging |
| Bank of America | 2 analysts | 6 questions · 0% challenging |
| Evercore ISI | 1 analyst | 6 questions · 0% challenging |
| Barclays | 1 analyst | 6 questions · 0% challenging |
| BMO Capital Markets | 1 analyst | 5 questions · 0% challenging |
Walmart delivered 7.3% reported revenue growth (5.7% constant currency) in FY2027-Q1, exceeding the top end of guidance by 120 basis points, with transaction growth the strongest in six quarters and eCommerce up 26% globally. Higher-margin businesses continued to scale with advertising up 37%, membership fees up 17%, and U.S. marketplace sales growing nearly 50%, collectively representing about one-third of operating income. Operating income growth of approximately 5% was tempered by $175 million in higher-than-planned fuel costs across distribution and fulfillment operations. Management reiterated full-year guidance of 3.5-4.5% constant currency sales growth and 6-8% operating income growth, expecting profitability to accelerate in Q2 and the second half.
Calendar quarter Q2 2026Earnings call May 21, 2026
FY2027 Q1 in brief
Walmart delivered 7.3% reported revenue growth (5.7% constant currency) in FY2027-Q1, exceeding the top end of guidance by 120 basis points, with transaction growth the strongest in six quarters and eCommerce up 26% globally.
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Sources. Tellvest earnings-call sentiment score for Walmart Inc. (WMT), FY2027 Q1: 6/10. Scores: Walmart Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: WMT daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2025 Q3 | $169.59B | +5.5% | $0.57 | +850.0% | 4.0% | 2.7% | $372M |
| FY2025 Q4 | $180.55B | +4.1% | $0.65 | -4.4% | 4.4% | 2.9% | $6.44B |
| FY2026 Q1 | $165.61B | +2.5% | $0.56 | -11.1% | 4.3% | 2.7% | $425M |
| FY2026 Q2 | $177.40B | +4.8% | $0.88 | +57.1% | 4.1% | 4.0% | $6.52B |
| FY2026 Q3 | $179.50B | +5.8% | $0.77 | +35.1% | 3.7% | 3.4% | $1.88B |
| FY2026 Q4 | $190.66B | +5.6% | $0.53 | -18.5% | 4.6% | 2.2% | $6.10B |
| FY2027 Q1Selected | $177.75B | +7.3% | $0.67 | +19.6% | 4.2% | 3.0% | $-1.95B |
| FY2027 Q2 | $187.94B | +5.9% | $0.80 | -9.1% | 5.0% | 3.4% | $7.47B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Margin | Competitive Dynamics | Demand | Revenue Growth | Pricing | Trade Tariffs | Macroeconomic | Innovation & R&D | |
|---|---|---|---|---|---|---|---|---|
| 2025Q3 | 5 | 4 | 4 | 4 | 1 | |||
| 2025Q4 | 4 | 3 | 1 | 1 | 2 | |||
| 2026Q1 | 2 | 2 | 1 | 1 | 1 | 5 | 1 | 1 |
| 2026Q2 | 5 | 3 | 1 | 1 | 2 | 3 | 2 | |
| 2026Q3 | 3 | 2 | 4 | 1 | 3 | 2 | 1 | 1 |
| 2026Q4 | 4 | 3 | 2 | 2 | 1 | 3 | 2 | |
| 2027Q1 | 4 | 5 | 4 | 4 | 4 | 2 | 2 | 1 |
| '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | '26Q4 | '27Q1 | |
|---|---|---|---|---|---|---|---|
| Margin | 5 | 4 | 2 | 5 | 3 | 4 | 4 |
| Competitive Dynamics | 4 | 2 | 3 | 2 | 3 | 5 | |
| Demand | 4 | 1 | 1 | 4 | 2 | 4 | |
| Revenue Growth | 4 | 3 | 1 | 1 | 1 | 2 | 4 |
| Pricing | 1 | 1 | 1 | 2 | 3 | 1 | 4 |
| Trade Tariffs | 1 | 5 | 3 | 2 | 2 | ||
| Macroeconomic | 2 | 1 | 1 | 3 | 2 | ||
| Innovation & R&D | 1 | 2 | 1 | 2 | 1 |
GAAP revenue YoY +7.33% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
What WMT said about other companies on its FY2027 Q1 call, and what other companies said about WMT on their calls covering the same calendar quarter (Q2 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“2 of your biggest competitors, worldwide, but certainly in The US, Walmart and Amazon, continue to ratchet up the competitive bar”
An analyst frames Walmart as one of Costco's biggest competitors ratcheting up delivery speed, reflecting intensifying retail delivery competition.
“Capital 1 margins have had a strength as there is been accelerating retail deposit growth, the full Walmart P&L as part of these things.”
The full Walmart partnership P&L is named as one of the variables strengthening Capital One's margins since the Discover deal was announced.
“we continue to be really excited about the trends that we're seeing on the Walmart program. It's our fastest growing program, I've mentioned this before, in our history across multiple metrics.”
Synchrony's revamped Walmart co-brand program, running through the OnePay app, is its fastest-growing program ever and on track to be a top-5 program, a positive signal on Walmart's consumer credit relaunch.
“all the retailers on their April quarter had nice comps, up mid-single digits and all called out toys, all of them, Target, Walmart, Five Below, GameStop.”
The same analyst cited Walmart among retailers with mid-single-digit comps that called out toys, signaling healthy toy-category demand at Walmart.
“75% of the growth in beauty came from new brands like La Roche-Posay and others.”
Walmart says 75% of its beauty category growth came from newly added vendor brands such as La Roche-Posay, a signal on that brand's traction at mass retail.
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| WMTWalmart Inc. | 6 | +7.3% | Walmart delivered 7.3% reported revenue growth (5.7% constant currency) in FY2027-Q1, exceeding the top end of guidance by 120 basis points, with transaction growth the strongest in six quarters and eCommerce up 26% globally | |
| COSTCostco Wholesale Corporation | 7 | +11.6% | Costco delivered a strong third quarter, with net sales up 11.6% to $69.2 billion and net income rising 15% to $2.19 billion, or $4.93 per diluted share | |
| DGDollar General | 8 | +3.4% | Dollar General delivered net sales growth of 3.4% to $10.8 billion and same-store sales growth of 2%, while diluted EPS rose 12.4% to $2.00, exceeding the high end of management's internal expectations | |
| DLTRDollar Tree | 8 | +7.2% | Dollar Tree opened fiscal 2026 with accelerating execution: continuing-operations net sales rose 7.2% to $5 billion on a 3.5% comparable-sales gain led by a 4.5% increase in average ticket, even as traffic slipped 1% against an earlier Easter calendar | |
| TGTTarget Corporation | 8 | +6.7% | Target delivered a strong Q1 with net sales of $25.4 billion (+6.7% YoY) and 5.6% comp growth driven by a 4.4% traffic increase, with strength across all six merchandise categories and both stores and digital channels |
Walmart delivered 7.3% reported revenue growth (5.7% constant currency) in FY2027-Q1, exceeding the top end of guidance by 120 basis points, with transaction growth the strongest in six quarters and eCommerce up 26% globally
Costco delivered a strong third quarter, with net sales up 11.6% to $69.2 billion and net income rising 15% to $2.19 billion, or $4.93 per diluted share
Dollar General delivered net sales growth of 3.4% to $10.8 billion and same-store sales growth of 2%, while diluted EPS rose 12.4% to $2.00, exceeding the high end of management's internal expectations
| Company | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|
| WMT | 6 | 5 | 8 | 9 | 6 | 6 |
| COST | 7 | 8 | 7 | 7 | 7 | 7 |
| DG | 6 | 7 | 8 | 9 | 8 | 8 |
| DLTR | 5 | 6 | 5 | 7 | 9 | 8 |
| TGT | 5 | 1 | 3 | 2 | 5 | 8 |
Dollar Tree opened fiscal 2026 with accelerating execution: continuing-operations net sales rose 7.2% to $5 billion on a 3.5% comparable-sales gain led by a 4.5% increase in average ticket, even as traffic slipped 1% against an earlier Easter calendar
Target delivered a strong Q1 with net sales of $25.4 billion (+6.7% YoY) and 5.6% comp growth driven by a 4.4% traffic increase, with strength across all six merchandise categories and both stores and digital channels