Walmart will report Q1 results tomorrow morning with a conference call scheduled to begin at 8 a.m. ET.

The current Capital IQ Consensus Estimate for Q1 EPS stands at $1.09 (vs $1.13 a year ago) on sales growth of about 6.2% to $130.58 bln.

As it stands, the current FY21 guidance calls for EPS of $5.00-5.15 vs. $5.12 S&P Capital IQ Consensus on net sales growth +3% in constant currency.

If WMT voices that COVID-19 caused struggles in the period these issues could make for easier comps next year, but all eyes will undoubtedly be on the comps and color from the call on demand for essential products.

Costs should be watched.

TECHS:

Valuation is also on watch this quarter.

Based on weekly May22 $127 straddle, the options market is pricing in a move of 5% in either direction by weekly expiration (Friday).

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