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Walmart Set to Report Fiscal Q3 Earnings, Offers Insight into U.S. Consumer Health

Prime Highlights:

  • Walmart’s Q3 earnings report will provide a clear view of U.S. consumer spending as the holiday season approaches.
  • The company has gained shoppers across all income levels, including wealthier customers, showing its strong market appeal.

Key Facts:

  • Analysts expect Walmart’s fiscal third-quarter earnings per share to be 60 cents, with revenue of $177.43 billion.
  • Walmart plans a leadership change, with John Furner set to succeed Doug McMillon as CEO of Walmart U.S. starting February 1.

Background:

Walmart will report its third-quarter earnings on Thursday, giving a clear look at U.S. consumer spending ahead of the holiday season. The retail giant, which serves shoppers across income levels, is closely watched by analysts for signs of broader economic trends.

Wall Street anticipates Walmart’s earnings per share to reach 60 cents, with revenue expected at $177.43 billion, according to a survey of analysts by LSEG. The company’s results will follow cautious updates from other major retailers such as Target, Home Depot, and Lowe’s, which reported that consumers are hesitant to make big purchases. In contrast, TJX, the parent company of T.J. Maxx and Marshalls, raised its full-year forecast, citing strong early holiday sales from value-conscious shoppers.

Walmart is selling well to both regular shoppers and richer customers trying to save on groceries. It also sells items like clothes and beauty products, showing what people are buying.

In August, Walmart raised its full-year sales and profit forecast, projecting net sales growth between 3.75% and 4.75% and adjusted earnings per share between $2.52 and $2.62. CFO John David Rainey noted that consumer behavior remained “very resilient” at that time.

This earnings report comes shortly after a leadership announcement: John Furner, CEO of Walmart U.S., will succeed Doug McMillon as CEO starting February 1. McMillon’s tenure has been marked by strong stock performance and growth in e-commerce, with shares rising over 300% during his leadership.

Walmart’s upcoming report will show how people are spending and give investors important insights before the busy holiday shopping season.