Walmart Earnings Set For Aug. 20
Walmart earnings are due Aug. 20 before the U.S. open; traders will watch consensus EPS near $0.73-$0.74 and guidance that excludes IEEPA tariff refunds.
KEY TAKEAWAYS
- Q2 fiscal 2027 results are scheduled Aug. 20 before the U.S. open with materials posted at 07:00 ET.
- Company guidance excludes any IEEPA tariff-refund impact, making reported EPS a test of underlying sales and margins.
- Street consensus sits near the top of the $0.72-$0.74 EPS guidance range, centering expectations.
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Walmart Inc. (WMT) will release its Q2 fiscal 2027 earnings on Aug. 20, 2026, before the U.S. market opens. The company plans to post earnings materials at 07:00 a.m. ET, followed by a conference call. Traders are watching consensus adjusted EPS near $0.73–$0.74 and revenue around $186 billion as a test of margins and the exclusion of potential International Emergency Economic Powers Act (IEEPA) tariff refunds.
Earnings Release Details and Market Expectations
Walmart will report results for the quarter ended July 31, 2026. Earnings materials will be available at 06:00 a.m. CDT (07:00 a.m. ET), with a live conference call starting at 07:00 a.m. CDT (08:00 a.m. ET). John Furner, president and CEO, and John David Rainey, executive vice president and CFO, will host the call. The company will provide a webcast and archive on its investor-relations site.
Trading and options previews describe the stock as quiet and directionless ahead of the release, with expectations for a sizable post-earnings move, setting up a day of heightened short-term volatility.
Guidance, Estimates, and Tariff Refund Exclusion
Earlier this year, Walmart set Q2 adjusted EPS guidance at $0.72–$0.74, constant-currency net sales growth at 4.0% to 5.0%, and adjusted operating income growth at 7.0% to 10.0%. Full-year fiscal 2027 EPS guidance stands at $2.75–$2.85. Consensus estimates cluster near the top of the EPS guidance range.
The company’s outlook explicitly excludes any impact from potential IEEPA tariff refunds. Walmart’s filings state no asset or income was recognized related to possible refunds due to uncertainty in timing and amount. Analysts estimate potential refunds at about $2.4 billion, which management has not incorporated into guidance.
Recent operating results provide context for evaluating these targets. In Q1 fiscal 2027, Walmart reported revenue of $177.8 billion, up 7.3% year over year and 5.9% on a constant-currency basis. U.S. comparable sales rose 4.1%, e-commerce grew 26%, advertising revenue increased 37%, and Walmart+ posted net additions.
Walmart’s grocery strength remains a core advantage, capturing the weekly shopping trip and anchoring traffic. Investors will watch whether the company can expand higher-margin categories such as e-commerce, advertising, and memberships to defend share against Amazon’s broader ecosystem and improve overall margins.
As a major retail bellwether late in the Q2 earnings season, Walmart’s results will be closely examined for signs of consumer spending resilience and confirmation of management’s guidance excluding tariff refunds.
"Walmart Inc. (NASDAQ: WMT) announced it will release its second quarter earnings results at 6 a.m. CDT and hold a live conference call with the investment community at 7 a.m. CDT on Thursday, August 20, 2026." — Walmart press release
