Walmart (WMT) Stock: What to Expect from Q2 Earnings Thursday
TLDR
- Walmart reports Q2 earnings before market open on August 20
- Wall Street expects EPS of $0.74, up from $0.68 a year ago, with revenue forecast at $186.62 billion
- Options traders are pricing in a 5% move in either direction after results
- The put-to-call ratio sits at 1.56x, pointing to a bearish lean in the options market
- WMT holds a Strong Buy consensus with an average price target of $140.33
Walmart heads into Thursday’s Q2 earnings report with its stock up around 4% year-to-date but down 14% over the past three months. WMT was trading around $115 heading into the print.
Wall Street is expecting EPS of $0.74 for Q2, compared to $0.68 in the same quarter last year. Revenue is forecast at $186.62 billion, up from $177.4 billion in Q2 2025.
The options market is pricing in a 5.14% swing in either direction after the results drop. That is roughly in line with recent history for WMT around earnings.
After its last report on May 21, 2026, the stock fell 7.27% the following day. Before that, it jumped 6.46% after November 2025 results, and dropped 4.49% following August 2025 numbers. It has been a bumpy ride.
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