Rollback (WMT Earnings)
Walmart (WMT) is set to report Q1 (Apr) earnings results tomorrow morning before the open.
The current S&P CapitalIQ consensus is for EPS of $1.48, down 12% yr/yr.
Revenue is expected to be about flat yr/yr at $138.05 bln. WMT is still lapping the panic buying we saw during the pandemic.
WMT is lapping generous stimulus payments in early 2021 (Jan and Apr). So keep that in mind.
Same store comps (excl fuel) are a closely-watched metric with WMT.
Look for an update from its advertising business
WMT typically beats analyst expectations although the last two quarters have seen slight upside.
TECHS:
Last quarter, WMT posted a $0.03 beat, its smallest EPS beat of the fiscal year. Walmart US saw its first ever $100+ bln quarter.
WMT will give a read through to whether the inflation headlines have been stalling consumer spending, this was not an issue in Q4.
Walmart is seen as a great barometer for consumer spending and this report should set expectations for a bunch of retailers who report this week (TGT, HD, LOW, TJX, KSS, ROST)
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