Walmart Inc.

Greetings. Welcome to Walmart's third quarter fiscal year 2026 earnings call. At this time, all participants are in listen-only mode. The question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. I'll now turn the conference over to Steph Wissing, Senior Vice President, Investor Relations. Thank you, Steph. You may begin.

Welcome, everyone. Thank you for your interest in Walmart. Joining me today from our home office in Bentonville are Walmart CEO Doug McMillan and CFO John David Rainey. Doug will begin with remarks about our upcoming leadership transition. Then we will hear from John Ferner, recently named as CEO of Walmart Inc. beginning February 1st, 2026. Doug and John David will then share their views on the third quarter and our business trends. Thereafter, we'll open the line for your questions. During the question and answer portion, we'll invite segment leaders to join in responding to your questions. John from Walmart U.S., Kath McClay from Walmart International, and Chris Nicholas for Sam's Club U.S. We will make every effort to answer as many questions as we can in the hour we have scheduled for this call. As a courtesy to others, please limit yourself to one question. For additional detail on our results including highlights by segment, please see our earnings release and supplemental presentation on our website. Today's call is being recorded and management may make forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from these statements. These risks and uncertainties include, but are not limited to, the factors identified in our filings with the SEC. Please review our press release and slide presentation for a cautionary statement regarding forward-looking statements, as well as our entire Safe Harbor statement and non-gap reconciliations on our website at stock.walmart.com. That concludes my introduction. Doug, it's my privilege to turn the earnings call over to you one last time.

Good morning and thanks for joining us. The team delivered another strong quarter. Our associates have us well positioned to finish the year with momentum. It's been an honor to serve them as CEO, and I'm as excited about the future of this company as I've ever been. John's ready. He knows our business so well, and he has the characteristics to lead us into the future. I couldn't be happier for him and for our company. Congratulations, John.