Walmart Earnings Date Set for August 20 With a $187 Billion Sales Test Ahead

Key Takeaways

• Walmart will publish its fiscal second-quarter 2027 results before the U.S. market opens on Thursday, August 20.
• Wall Street expects approximately $186.77 billion in revenue and adjusted earnings of $0.74 per share.
• Investors will focus on comparable sales, e-commerce growth, profit margins and the company’s full-year outlook.
• Walmart shares closed at $115.27 on August 14, leaving the retailer with little room for disappointment at its premium valuation.

The next Walmart earnings date is Thursday, August 20, when the retail giant will report results for the second quarter of fiscal 2027.

Walmart is scheduled to release its quarterly figures at 6:00 a.m. Central Daylight Time, or 7:00 a.m. Eastern Time. A conference call led by President and CEO John Furner and Chief Financial Officer John David Rainey will begin one hour later, according to Walmart’s official earnings announcement.

The report will provide an important update on U.S. consumer spending, particularly among lower- and middle-income households. It will also test whether Walmart’s fast-growing digital businesses can continue lifting profitability while the company invests in lower prices and faster delivery.

Wall Street Expects Nearly $187 Billion in Revenue

Analysts expect Walmart to report second-quarter revenue of approximately $186.77 billion, up about 5.3% from $177.40 billion in the same period last year. Adjusted earnings are projected at $0.74 per share, compared with $0.68 a year earlier, according to a recent analyst preview.

Walmart’s own guidance calls for constant-currency net sales growth of between 4% and 5%. The company expects adjusted operating income to increase by 7% to 10%, while adjusted earnings should fall within a range of $0.72 to $0.74 per share.

That outlook suggests profits could grow faster than sales, but investors will want evidence that Walmart is achieving this operating leverage without weakening its price advantage.

Bank of America forecasts Walmart U.S. comparable sales, excluding fuel, will increase 3.5%. The estimate was lowered from 4% amid signs that lower-income customers are becoming more selective with discretionary purchases.

E-Commerce and Advertising Take Center Stage

Walmart entered the quarter with strong digital momentum. In the first quarter, total revenue increased 7.3% to $177.8 billion, while global e-commerce sales advanced 26%. Walmart U.S. comparable sales excluding fuel rose 4.1%.

The company’s higher-margin businesses also expanded rapidly. Global advertising revenue increased 37%, Walmart U.S. advertising grew 36%, and worldwide membership-fee revenue climbed 17.4%, according to Walmart’s first-quarter filing.

These operations have become increasingly important to Walmart’s profitability. Advertising and marketplace services can generate higher margins than traditional merchandise sales, while Walmart+ and Sam’s Club memberships provide recurring revenue.

Investors will therefore examine whether growth in these businesses was sufficient to offset the costs associated with fulfillment, technology, employee benefits and price investments. The economics of delivery will also be closely watched as more online orders are fulfilled directly from Walmart stores.

Inventory and Cost Pressures Could Shape Margins

Inventory will be another significant item in the report. Walmart’s global inventory increased 8.9% in the first quarter to $62.6 billion, partly because of receipt timing and strong grocery demand.

The increase was not necessarily a sign of weaker sales, but another substantial rise could raise concerns about markdown risk or slower demand in discretionary categories. Management’s comments on general merchandise, grocery volumes and customer purchasing patterns may offer a clearer picture of consumer health.

Costs also remain a central issue. First-quarter operating income rose 5%, but higher fuel expenses in distribution and fulfillment reduced operating-income growth by approximately 250 basis points.

Walmart’s enormous purchasing scale gives it more flexibility than many competitors when dealing with cost inflation. However, absorbing higher expenses to preserve low prices can pressure margins, while passing them on to customers risks weakening demand.

Full-Year Guidance May Decide the Stock’s Reaction

Walmart has maintained its fiscal 2027 forecast for constant-currency net sales growth of 3.5% to 4.5%. Adjusted operating income is expected to rise 6% to 8%, with adjusted earnings of $2.75 to $2.85 per share.

Wall Street’s full-year earnings expectations are slightly more optimistic, making a guidance increase an important potential catalyst. A solid quarter accompanied only by unchanged guidance may not be enough to satisfy investors expecting Walmart to resume its traditional pattern of beating estimates and raising its outlook.

Walmart shares finished August 14 at $115.27, down 0.39% for the session, according to MarketWatch market data. With the stock valued at close to 40 times earnings, the market is already pricing in sustained market-share gains and dependable profit growth.

The August 20 report must therefore demonstrate more than resilient sales. Investors will be looking for continued digital expansion, improving margins and confidence that Walmart can protect its full-year targets despite a cautious consumer environment.