Walmart Inc (NYSE:WMT) is likely to report steady third-quarter earnings when it reports back before the market open on Thursday, November 16.
That’s after a knockout second quarter as it continued to attract more cost-conscious shoppers.
“When Walmart reported in August they crushed expectations, growing revenues, and profits,” CMC Markets chief market analyst Michael Hewson commented in a client note.
“There is a danger however that could be as good as it gets as we head into the final quarter of 2023 and Q4.”
Walmart itself has guided for 3Q earnings per share (EPS) of between $1.45 to $1.50, little changed from $1.50 last year.
According to Zacks Investment Research, based on 14 analysts' forecasts, the consensus EPS forecast for the quarter is a touch higher at $1.51.
Walmart’s shares traded 1.2% up at $165.88 on Friday afternoon, taking gains for the year to 15.5%. They reached a record high of $166.30 on November 3.
Contact the author at stephen.gunnion@proactiveinvestors.com