Customers wearing face masks shop at a Walmart on July 15, 2020 in Washington, D.C.
Sha Hanting | China News Service via Getty Images
Walmart is set to report its fiscal second quarter earnings before the bell Tuesday as the coronavirus pandemic shakes up consumer shopping patterns.
Here’s what Wall Street is expecting, based on average analysts’ estimates compiled by Refinitiv:
- Adjusted EPS: $1.25
- Revenue: $135.48 billion
- Same-store sales: up 5.4% in the U.S., according to StreetAccount consensus estimates
In the initial months of the pandemic, the big-box retailer’s e-commerce sales soared as consumers flocked to its website to buy groceries, bicycles, beard trimmers and other items as they spent more time at home. Shoppers made fewer trips to stores, but filled up bigger baskets with food and household essentials like toilet paper.
Walmart hired more than 400,000 hourly workers since the pandemic started to help fulfill online orders, clean stores and restock shelves.
Wall Street analysts and investors will listen to hear if Walmart’s sales have continued to rise or moderated as lockdowns have lifted across the country. They will also see if the big-box retailer provides a financial outlook for the year. The company withdrew guidance last quarter, saying the pandemic has created “unprecedented variability.”
This story is developing. Please check back for updates.
