Walmart stock investors will get their first major test of the retailer’s momentum tomorrow when the company releases second-quarter earnings at 6 a.m. CDT on August 20, 2026, with analysts forecasting strong growth across both the top and bottom lines.
Wall Street consensus expects Walmart to report earnings per share of $0.73 to $0.74, representing growth of approximately 7 to 9 percent compared to the same quarter last year, according to multiple analyst forecasts. Revenue is projected to reach $186.3 billion to $186.73 billion, up roughly 5 percent year-over-year, signaling continued resilience in retail despite broader economic headwinds.
The earnings report arrives as Walmart has demonstrated momentum across its higher-margin businesses. In the second quarter of fiscal 2026, the company’s U.S. comparable sales rose 4.6 percent, driven by strong performance in grocery and health and wellness categories, according to the company’s earnings release filed with the Securities and Exchange Commission. The company’s global advertising business grew 46 percent year-over-year during the same period, significantly outpacing overall sales growth and becoming a key margin driver.
E-commerce has been another bright spot. Walmart U.S. e-commerce grew 26 percent in the second quarter of fiscal 2026, with store-fulfilled delivery seeing nearly 50 percent growth, according to CNBC’s coverage of the company’s earnings call. The marketplace segment has also expanded rapidly, with marketplace net sales up nearly 50 percent in the first quarter of fiscal 2026, driven by rising seller participation and SKU expansion.
Management reiterated full-year guidance of 3.5 to 4.5 percent constant-currency sales growth and 6 to 8 percent operating income growth, with Q2 expected to show operating income growth of 7 to 10 percent in constant currency, according to analyst commentary from Zacks and Tikr. Profitability is expected to accelerate in the second half of the year, a signal that management sees momentum building as the company navigates consumer spending patterns and tariff pressures.
Walmart’s earnings report will offer investors insight into how the company is balancing value-conscious consumer demand with margin expansion through advertising and marketplace initiatives. The company has beaten expectations in 25 consecutive quarters, according to recent analyst commentary, setting a high bar for tomorrow’s release.
Sources
- Walmart Corporate Newsroom — announcement of August 20, 2026 earnings release date and time
- TalkBusiness — consensus analyst estimates for Q2 earnings per share and revenue
- Zacks Investment Research — analyst consensus for EPS and revenue expectations; full-year guidance
- CNBC — Q2 FY26 earnings results, advertising growth, e-commerce growth, and comparable sales
- U.S. Securities and Exchange Commission — Walmart Q2 FY26 earnings release filing
- Yahoo Finance — consensus revenue estimates and analyst outlook
- Tikr — management guidance for operating income growth and full-year outlook
