Walmart Q1 Earnings Preview Revenue EPS Estimates

Walmart reports first-quarter earnings Thursday before the bell, with Wall Street expecting 174.94 B revenue and 0.66 EPS. The Silicon Review breaks down analyst estimates, e-commerce growth, and new CEO John Furner's first earnings call.

Walmart is set to report its first-quarter fiscal 2026 earnings before the market opens on Thursday, May 21, with Wall Street analysts projecting continued strength from the retail giant amid a challenging consumer environment.

The Walmart Q1 earnings consensus calls for revenue of approximately 174.94 billion, representing year−over−year growth of nearly 6percent. Adjusted earnings per share are expected to reach 0.66, up from $0.61 in the same quarter last year.

Walmart financial results have consistently beaten expectations, with the company exceeding top-line estimates for 24 consecutive quarters. The average sales surprise over the last four quarters has been 0.68 percent, while earnings surprises have averaged 0.8 percent.

The quarter marks the first earnings report under new CEO John Furner, who took over in February. Furner will host the earnings call at 8:00 a.m. EDT alongside CFO John David Rainey, giving investors their first opportunity to hear his vision for Walmart's future direction.

BofA Securities analysts project Walmart U.S. same-store sales of 4.5 percent, with core customers expected to prove resilient amid macro volatility and higher gas prices. The firm expects more households to turn to discount-oriented retailers like Walmart as inflation pressures persist.

Walmart's e-commerce business remains a key growth driver, with global e-commerce sales jumping 22 percent in the first quarter of fiscal 2026. Walmart U.S. e-commerce sales rose 21 percent, fueled by marketplace expansion, advertising, and store-fulfilled pickup and delivery orders.

Key metrics to watch include Walmart U.S. comparable store sales, projected at 3.9 percent, and Sam's Club comparable store sales, expected at 3.3 percent. Membership and other income is forecast at $1.75 billion, up 7.3 percent year-over-year.

Analysts remain broadly bullish on Walmart shares, with ten buy ratings among the 11 analysts tracked, along with one neutral rating. Their average price target suggests upside of about 5 percent from current levels.

By the third quarter of 2026, analysts expect Walmart to update its fiscal 2027 guidance. The company has historically maintained conservative guidance after Q1 results.

The Silicon Review's analysis indicates that Walmart's first-quarter report will serve as a bellwether for American consumer health. Rising gas prices and persistent inflation have strained household budgets, but Walmart's value positioning and e-commerce investments have positioned it to gain market share even as discretionary spending weakens.

Q: When will Walmart report its first-quarter earnings for 2026?
A: Walmart will report Q1 earnings before the market opens on Thursday, May 21, 2026.

Q: What are the Wall Street expectations for Walmart Q1 earnings?
A: Analysts expect revenue of Walmart Q1 earnings consensus calls for revenue of approximately 174.94 billion, representing year−over−year growth of nearly 6percent. Adjusted earnings per share are expected to reach 0.66, up from $0.61 in the same quarter last year.

Q: Who is Walmart's new CEO and when did they take over?
A: John Furner became Walmart's CEO in February 2026. The Q1 earnings call will be his first as CEO.

Q: How has Walmart's e-commerce business performed recently?
A: Walmart's global e-commerce sales jumped 22 percent in Q1, with Walmart U.S. e-commerce up 21 percent and Sam's Club U.S. e-commerce up 27 percent.

Q: Has Walmart consistently beaten earnings expectations?
A: Yes. Walmart has exceeded top-line estimates for 24 consecutive quarters with an average sales surprise of 0.68 percent.

Q: What is the stock market expectation for Walmart shares after earnings?
A: Based on options pricing, traders expect Walmart shares could swing up to about 5 percent by the end of the week.