Walmart set to report Q1, May 21

Walmart is due to release first-quarter results on Thursday, May 21, before the U.S. market opens, putting fresh attention on whether the retailer sticks with the annual targets it set in February. The company said it will post earnings at 6 a.m. CDT and hold a conference call at 7 a.m. CDT with President and Chief Executive Officer John Furner and Chief Financial Officer John David Rainey. Analysts heading into the report have centered expectations near $0.66 in adjusted earnings per share and about $174.8 billion to $174.95 billion in revenue. Walmart’s investor relations site lists the event as fiscal 2027 first-quarter results, reflecting the company’s calendar. ### What exactly is Walmart reporting on May 21? Walmart’s May 21 release covers the first quarter of its fiscal 2027, even though some market previews refer to it as fiscal 2026 because the quarter falls in calendar 2026. The company’s investor relations page lists “FY2027 Q1 Earnings Release” for May 21 at 7:00 a.m. U.S. Central time. Walmart said in a May 14 notice that the earnings release will come at 6 a.m. CDT, followed by the management call an hour later. (stock.walmart.com) Bentonville, Arkansas-based Walmart generated $681 billion in revenue in fiscal 2025, according to its investor relations overview, and says about 270 million customers and members visit its stores and e-commerce sites each week. Those figures help explain why investors use Walmart’s report as a readout on consumer demand across groceries, general merchandise and memberships. ### Which numbers are Wall Street watching most closely? (stock.walmart.com) Consensus estimates compiled in preview reports point to adjusted earnings per share of about $0.66 and revenue of roughly $174.9 billion. The Silicon Review cited a revenue consensus of approximately $174.94 billion and said adjusted EPS was expected at $0.66. Yahoo Finance reported similar expectations and said U.S. comparable sales were expected to rise 4%. (stock.walmart.com) Some analyst previews also flagged operating income near $7.75 billion. That figure appeared in pre-earnings commentary cited in the source briefings and in market preview coverage that said investors were looking beyond the headline sales number to margin performance and guidance. ### Why is guidance getting more attention than the quarter itself? (thesiliconreview.com) Walmart’s February outlook set the baseline. In its fourth-quarter release, the company said fiscal 2027 net sales were expected to grow 3.5% to 4.5% in constant currency, adjusted operating income was projected to grow 6.0% to 8.0%, and adjusted earnings per share were expected in a range of $2.75 to $2.85. CNBC reported at the time that the EPS range was below Wall Street expectations compiled by LSEG. (thesiliconreview.com) Yahoo Finance said ahead of Thursday’s report that Walmart is expected to reiterate that outlook, adding that the company’s prior forecast had disappointed Wall Street. That leaves management commentary from Furner and Rainey as a central focus, especially if they address spending patterns, pricing and category mix. (stock.walmart.com) ### What did Walmart say the last time it reported a first quarter? Walmart’s prior first-quarter report, released on May 15, 2025, showed adjusted EPS of $0.61, constant-currency revenue growth of 4%, global e-commerce growth of 22% and Walmart U.S. comparable sales growth of 4.5%, according to the earnings-call transcript hosted by Yahoo Finance. Management also reaffirmed full-year guidance at that time. (finance.yahoo.com) Doug McMillon, then chief executive, and Rainey used that call to point to inventory control and a broader mix of profit streams, according to the transcript summary. Investors will be looking for whether the same themes show up again in Thursday’s release and whether Furner, now leading the earnings call, keeps the company’s annual forecast intact. (finance.yahoo.com) ### Who will deliver the update, and when can investors follow it? Walmart said John Furner and John David Rainey will host the May 21 conference call and answer questions from the investment community. The company’s notice said the earnings release is scheduled for 6 a.m. CDT and the live call for 7 a.m. CDT, with materials posted through Walmart’s investor relations channels. (finance.yahoo.com) May 21 is the next concrete milestone: Walmart’s release is due before the opening bell, and management’s call follows one hour later with Furner and Rainey. (finance.yahoo.com)