EARNINGS & CATALYSTS · November 12, 2026
Walmart earnings ahead: can lower prices lift shopping growth? — November 19, 2026
Walmart’s November 19 earnings will test whether price cuts and online growth can support profits. Watch U.S. shopping trends, holiday guidance and the effect of tariff refunds.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| Walmart Inc. (WMT) | November 19, 2026Issuer confirmed | Before open | 0.64 | 187.27B |
1) When are earnings, and what is the benchmark?
Walmart has confirmed fiscal third-quarter 2027 results for November 19, 2026 before open. Its August 20 outlook called for adjusted profit of $0.62–$0.64 per share and net sales growth of 3%–3.75% excluding currency changes. These are management forecasts, not reported results or analyst consensus.
2) What do the previous reports tell us?
Second-quarter adjusted profit was $0.81 per share versus the $0.74 FactSet estimate; revenue was $187.94 billion versus $186.62 billion. The shares nevertheless fell 9.2% from the prior close to the August 20 close. First-quarter adjusted profit matched the $0.66 estimate, while revenue exceeded expectations. Its May 21 closing reaction was a 7.3% decline. A profit beat alone has not guaranteed a positive market response.
3) What does the share price imply?
Walmart closed at $125.67 on November 11. That is about 44.3 times the midpoint of its fiscal 2027 adjusted profit outlook and 45.5 times trailing reported profit. These price-to-earnings ratios show how much investors pay for each dollar of annual profit. The chart highlights recent lows around $123–$124.60 and highs around $130.90–$131.90; earnings can move the stock beyond either area.
4) How the business makes money
Walmart earns money from groceries and general merchandise sold in stores and online. Sam’s Club memberships, advertising and services for marketplace sellers add other income streams. Walmart U.S. accounted for about 68% of fiscal 2026 revenue.
5) What to watch
Watch whether price cuts lift customer visits and spending. Tariff refunds helped the previous quarter, while reinvestment in lower prices can limit near-term margins. The holiday outlook will help investors judge whether stronger demand can offset that pressure.
6) Recently reported peers
Albertsons reported on October 13: adjusted profit of $0.36 per share exceeded the $0.3326 Fiscal.ai consensus shown by MarketBeat, while revenue was slightly above estimates. Comparable sales fell 0.8%, and the company withdrew its annual outlook pending a business review. That provides grocery-demand context, although Walmart’s broader merchandise and advertising businesses differ.
7) Risks into the report
Consumers may remain cautious, and delivery, wages and fuel can absorb sales gains. Paying a high multiple of profit leaves less room for weaker guidance. Insider sales do not by themselves show management’s expectations for the next earnings report.
8) Insider activity over the past three months
$0 bought and $31.6M sold in reported trades. 0% buy / 100% sell by value. 0 insiders bought only, 6 sold only, and 0 did both.