By Connor Hart

Walmart is scheduled to report fourth-quarter results before the market opens Thursday. Here is what you need to know:

EARNINGS: The retail goliath is projected to post a profit of $5.79 billion, up from $5.25 billion a year earlier. Stripping out certain one-time items, adjusted earnings are expected to be 73 cents a share, ahead of the 66 cents a share the company logged last year.

REVENUE: Quarterly revenue is forecast to climb 5.5% from last year, to about $190.49 billion.

SAME-STORE SALES: Comparable sales, or those from stores and digital channels in operation for at least a year, are expected to rise 4.3%. That would be a slight downtick from a year ago, when the Bentonville, Ark.-based company reported same-store sales up 4.7%.

Walmart shares have climbed nearly 27% over the past three months and were recently trading hands at $127.14.

WHAT TO WATCH

--Thursday's readout will mark John Furner's debut as the retailer's 5th CEO since Sam Walton. D.A. Davidson analysts Michael Baker and Keegan Cox expect the message to be business as usual, meaning continued market share gains and margin expansion. Walmart's core business remains strong, the analysts said, and the company is seeing incremental returns from investments in AI and automation. Baker and Cox wouldn't be surprised if Walmart's initial outlook comes in below Wall Street's expectations, citing inflated expectations. Still, they note the company has a tendency to beat its original plan.

--Walmart earlier this month joined the small-but-growing club of companies with a market capitalization above $1 trillion. The retailer's stock has surged in recent months fueled in part by Wall Street's enthusiasm for the growth of the company's online business, as well as its investments in automation and artificial-intelligence technology aimed at improving efficiency. John Furner also stepped into the company's top role earlier this month, as the Walmart faces an evolving landscape related to artificial intelligence and uncertain consumer demand. Investors will be looking for comments from Furner on the company's tech-focused trajectory, as well as his vision for Walmart moving forward.

--Walmart has previously flagged a two-track economy, in which lower-income shoppers feel increasingly stressed and wealthier consumers spend steadily. The retailer has been winning over people across all income levels, most notably higher-income shoppers. Investors will be looking to see if Walmart can continue to scoop up market share, and whether the bifurcation between low- and high-income shoppers continues to grow.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 18, 2026 12:11 ET (17:11 GMT)

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