Customers exit a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour.
Joe Raedle | Getty Images News | Getty Images
Walmart will report its holiday-quarter earnings on Tuesday morning, as investors and economists try to gauge the health of the American consumer.
Here’s what analysts expect Walmart to report for the fiscal fourth quarter, according to Refinitiv consensus estimates:
- Earnings per share: $1.51 expected
- Revenue: $159.72 billion expected
Walmart is expected to share its outlook for the year, too. It’s likely to strike a more cautious tone. As families pay higher prices because of inflation, they are also spending again on commuting, dining out and other services. They are also following a period of pandemic-fueled spending. All of those factors could contribute to slower sales and modest plans for spending and hiring.
The company is not only the nation’s largest retailer. It’s also a grocery powerhouse, a factor that has steadied sales and driven foot traffic as Americans adjust to high inflation.
Walmart’s association with low prices has attracted higher-income shoppers in recent months, too. Over the past two quarters, the company said about 75% of its market share gains in food came from households that make more than $100,000 a year.
Shares of Walmart closed on Friday at $146.44, bringing the company’s market cap to nearly $395 billion. The company’s shares are up about 3% so far this year, underperforming the S&P 500’s approximately 6% gain during the same period.
