A sign with the Walmart logo is seen outside of a Walmart store in Selinsgrove.
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Walmart will report fiscal third-quarter earnings before the bell on Thursday and give the latest read on consumer spending as the retail industry heads into the holiday season.
Here’s what Wall Street expects for the company’s fiscal third quarter, according to a survey of analysts by LSEG:
- Earnings per share: 60 cents expected
- Revenue: $177.43 billion expected
The retail giant, which draws shoppers across incomes, is well-positioned to give a snapshot of U.S. consumer health and the impact of short-term factors that may have colored the quarter. As the nation’s largest grocer, it has many shoppers who receive Supplemental Nutrition Assistance Program, or SNAP, benefits, formerly known as food stamps. Recipients stopped receiving that aid during the prolonged government shutdown.
Walmart has gained more high-income customers as even affluent households sought relief from pricier grocery bills and responded to store remodels and faster deliveries. And it can speak to consumer behavior across categories, since it sells discretionary items like makeup and clothes along with necessities like milk and toilet paper.
Walmart raised its full-year sales and profit forecast in August. At the time, the retailer said it expects net sales to rise between 3.75% and 4.75% for the fiscal year and its adjusted earnings per share to range from $2.52 to $2.62.
Back in August, Walmart CFO John David Rainey told CNBC that the big-box retailer had not noticed meaningful changes in consumer behavior, saying at the time that shoppers “continue to be very resilient.”
Walmart’s financial results on Thursday will follow cautious updates from Target, Home Depot and Lowe’s. All three of those retailers lowered their full-year profit outlook this week and referred to consumers who were hesitant to make big purchases and hungry for deals. T.J. Maxx and Marshalls parent company TJX, on the other hand, hiked its full-year forecast, saying it’s seeing a “strong start” to the holidays as it caters to value-conscious shoppers.
Walmart’s earnings report will be the first since the Arkansas-based big-box retailer announced a leadership change. Walmart announced last week that John Furner, the CEO of Walmart’s U.S. business, will succeed longtime CEO Doug McMillon on Feb. 1.
McMillon’s tenure has been marked by sharp stock gains and e-commerce growth. During his years as CEO, shares of Walmart are up by more than 300%.
Source: https://www.cnbc.com/2025/11/20/walmart-wmt-q3-2026-earnings.html
