Walmart Earnings Preview: Consolidation Trend Breakout Imminent Ahead of Results

Walmart is scheduled to release earnings tomorrow before the market opens.

Stock price has consolidated in anticipation of financial data.

However, the macroeconomic environment may favor further revenue expansion.

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Despite a solid 13% year-to-date gain, Walmart (NYSE:) has spent the past couple of months trading sideways within the $58-62 per share range.

The stock could break out of this consolidation in the coming days, driven by the company’s first-quarter 2024 results, scheduled for release tomorrow before the opening bell.

Market consensus expects an improvement in earnings per share and revenue compared to the same period last year. However, the significantly higher number of downward revisions compared to upward revisions is a potential concern.

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