Walmart (WMT) Q3 2024 Earnings –

Walmart store with garden products for sale in Atchison, Kansas.

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Walmart will report its quarterly results on Thursday as the discount retailer generally outperforms its rivals.

According to consensus estimates from LSEG, formerly known as Refinitiv, Wall Street expects the following from the retailer:

  • Earnings per share: $1.52 expected
  • Revenue: $159.72 billion expected

As the holidays approach, investors have assumed the major retailer has the ingredients it needs to boost sales even as shoppers become more discerning. It is the largest grocery retailer in the country, which helps keep foot traffic more stable.

Walmart has been investing in its e-commerce business by expanding its assortment through its third-party marketplace. It also makes money in newer ways, such as selling ads and annual memberships to Walmart+, its answer to Amazon Prime.

The company’s shares on Wednesday hit an all-time high dating back to when Walmart debuted on the New York Stock Exchange in August 1972. The stock closed at nearly $170 on Wednesday, up about 19% on the year.

Target’s performance also boosted Walmart stock on Wednesday and could bode well for Walmart’s quarter. Target’s sales fell year-over-year but beat Wall Street’s profit and revenue expectations.

Walmart outperformed Target last year, relying on grocery sales and a reputation for low prices.

Michael Baker, retail analyst at DA Davidson, said Walmart has gained market share because it has reached the right point of offering a more extensive mix of staples and building a reputation for value for money.

However, he added that the company could be at risk as it returns to reporting profits.

“For me, the concern is, ‘Have the expectations become too high?’” he said.