The Strategist

Walmart's net profit in fiscal year 2022-23 down 15 percent

02/22/2023 - 06:57

The largest retailer in the world, U.S. Walmart, reported in a press release that its fiscal year 2022–2023 (which ended Jan. 31) saw a fall in its combined net income of 14.6% to $11.68 billion.

Mike Mozart
Mike Mozart
Walmart reported $4.27 in diluted earnings per share, down from $4.87 in the prior year. The company’s overall revenue increased 6.7% year over year to $611.289 billion.

In the final quarter of the fiscal year, the company's consolidated net income grew 1.8 times to $6.275 billion. The diluted earnings per share were $2.32, up from $1.28 in the prior year. The business's overall sales for the fourth quarter increased 7.3% to $164.048 billion. The amount expected by analysts was $159.77 billion.

The company anticipates consolidated revenue growth of 4.5–5% and consolidated operating profit increase of 3.5–4% in the first quarter of 2023–2024. 2.5–3% growth in consolidated sales and a 3%–5% increase in operating profit is expected for the entire year.