Walmart (WMT) Q3 2026 earnings

Walmart It 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 conducted by LSEG:

• Earnings per share: 60 cents expected
• profit: $177.43 billion expected

The retail giant, which attracts income shoppers, is well-positioned to provide a snapshot of the health of the American consumer and the impact of short-term factors that may have impacted the quarter. As the nation’s largest grocery store, 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 long government shutdown.

Walmart gained more high-income customers, as even wealthy families sought relief from expensive grocery bills and responded with store remodels and faster delivery. It can speak to consumer behavior across categories, because it sells discretionary items like makeup and clothing along with necessities like milk and toilet paper.

Walmart raised its full-year sales and profit forecasts in August. At the time, the retailer said it expected net sales to rise between 3.75% and 4.75% for the fiscal year and adjusted earnings per share to range from $2.52 to $2.62.

Last August, John David Rennie, Walmart’s chief financial officer, told CNBC that the big retailer had not noticed meaningful changes in consumer behavior, saying at the time that shoppers were “still very resilient.”

Walmart’s financial results will be followed Thursday by cautious updates from goal, Home Depot and Louie. All three retailers lowered their full-year profit forecasts this week and pointed to consumers who were hesitant to make big purchases and hungry for deals. Parent company TJ Maxx and Marshalls TJXOn the other hand, it raised its full-year outlook, saying it is seeing a “strong start” for the holidays as it caters to value-conscious shoppers.

Walmart’s earnings report will be the first since the Arkansas-based large retailer announced a change in leadership. Walmart announced last week that John Furner, CEO of Walmart’s U.S. business, will succeed longtime CEO Doug McMillon on February 1.

McMillon’s tenure was marked by sharp gains in stocks and the growth of e-commerce. During his years as CEO, Walmart shares rose more than 300%.