The Death of the Consumer? Previewing Walmart’s Earnings
Three Statement Consensus Model + Full Historical Valuation Context
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In the sections below we provide 1) detailed Consensus expectations for Walmart into this week’s print, 2) full Setup context including forward valuation + short interest + growth expectations + reaction history, 3) a working three Consensus financial model out through 2029, and 4) high-level bull/bear theses for the stock.
While Walmart has taken a big breather of late, it still sits at a historically high forward earnings multiple close to 40x:
With that context in mind, Consensus expects 12% earnings growth this quarter accelerating to 14% in 3Q - here are full, detailed expectations for the quarter concluded, the next quarter, and the full year: