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Walmart Inc. (WMT-2.44%) has submitted its Form 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports a net sales increase of 5.4% to $168 billion for the quarter, driven by strong performance in the U.S. and international markets. The Walmart U.S. segment saw a comparable sales increase of 5.1%, with eCommerce contributing significantly.
Operating income for the quarter was $6.7 billion, an 8.2% increase from the previous year. This growth was attributed to strategic pricing and a focus on higher-margin businesses.
Walmart International's net sales grew by 8.0%, with positive contributions from most international markets and a significant eCommerce presence. However, currency exchange rates negatively impacted net sales by $1.2 billion.
Sam's Club segment reported a 3.9% increase in net sales, with a comparable sales growth of 3.8%. The segment benefited from strong sales in grocery and health and wellness.
Walmart's gross profit margin improved slightly to 24.2%, while operating expenses as a percentage of net sales increased due to hurricane-related costs and higher marketing expenses.
The company declared a quarterly dividend of $0.2075 per share, maintaining its commitment to returning value to shareholders through dividends and share repurchases.
Walmart continues to face legal proceedings, including opioid-related litigation and antitrust matters in Mexico and India. The company has settled certain opioid-related claims with a $3.3 billion liability.
Walmart's liquidity remains strong, supported by cash flows from operations and access to capital markets. The company has renewed its revolving credit facilities, totaling $15 billion, which remain undrawn.
The company anticipates continued uncertainty due to inflationary trends, supply chain disruptions, and geopolitical conditions, but remains focused on its growth, margin, and return strategies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Walmart Inc. quarterly 10-Q report dated December 6, 2024. To report an error, please email earnings@qz.com.