Walmart posted a strong first quarter and reiterated guidance for the year. However, executives warned that financial performance for the year ahead was subject to “substantial uncertainty” as a result of fluctuating tariff policies.

Walmart is set to report results for the first quarter of its 2026 fiscal year on Thursday, with analysts seeing the retail giant as a potential winner from tariff uncertainty.

Walmart reported strong results for the first quarter of fiscal 2026, beating analyst estimates for revenue and earnings while maintaining its outlook for the full year. However, the company warned that the impact of U.S. tariffs would force it to raise prices toward the end of May, which could have a negative impact on sales.