Wal-Mart's earnings guidance missed expectations, causing its stock price to plummet more than 9% before the market opened.

Wal-Mart (WMT) shares plunged more than 9% before the US market opened on February 20, as its adjusted EPS guidance for 2026 fell short of market expectations. Wal-Mart's latest financial data revealed: Q4 revenue in 2025 was US$180.6bn, up 4.1% YoY. Full-year revenue in 2025 was US$681bn, up 5.1% YoY. Adjusted EPS in Q4 was US$0.66, in line with expectations. Wal-Mart expects adjusted EPS in 2026 to be US$2.50-US$2.60, lower than the market's US$2.77 estimate. Wal-Mart CEO Doug McMillon stated, "We are expanding our market share, revenue is strong, and inventory management is effective. As we invest more to better serve customers and members, we will continue to focus on business growth, improving operating profit margins, and enhancing investment returns." It is noteworthy that the Wal-Mart board of directors approved an annual cash dividend of US$0.94 per share for 2026, up 13% from US$0.83 per share paid in the previous year. It is disclosed that the annual dividend of US$0.94 per share in 2026 will be paid quarterly, US$0.235 per share.