Walmart & Deere Earnings Previews: What You Need to Know

Walmart (WMT) and Deere (DE) are both scheduled to report earnings before markets open on Thursday, 19 February, offering traders a ground-level view of consumer spending and industrial demand. The reports arrive in a compressed four-day week, with US markets closed Monday for Presidents' Day.

TL;DR

• Walmart is scheduled to report Q4 FY2026 on Thursday. Consensus EPS points toward $0.73, while revenue is expected to come in at ~$190.4 billion.

• Deere is scheduled to report Q1 FY2026 the same morning. Consensus EPS is expected to come in at ~$1.92, and its revenue at~$7.6 billion. 

• December US retail sales were flat, missing the 0.4% expected gain.

• January CPI fell to 2.4% year-on-year, the lowest since May 2025.

The Consumer Data Puzzle

Last week, on 10 February, US government data showed that December 2025 retail sales were virtually unchanged on a monthly basis, well below the 0.4% rise Wall Street had expected. On the same day, the Dow Jones Industrial Average touched a new record above 50,188, while Walmart and Costco shares fell more than 1% each.

Strong employment data and record stock indices, paired with flat consumer spending, may be the kind of contradiction that company-level earnings can help clarify. Walmart serves 270 million customers weekly across 10,750 stores in 19 countries. The data shows that customers are exchanging their branded products for private-label items and reveals their preference for buying essential products rather than non-essential ones. (Source: CNBC)

Walmart: Reading Between the Lines

Walmart shares reached an all-time closing high of $133.89 on 13 February and touched $134.65 intraday the following session, giving the company a market capitalisation above $1 trillion. The stock has climbed roughly 19% year-to-date.

Walmart released its Q3 FY2026 financial results, which demonstrated 5.9% sales growth through constant currency measurement and 27% e-commerce growth, and better-than-expected annual performance projections.

Key performance indicators for Thursday include same-store sales growth and the mix between grocery and general merchandise. Traders will also watch e-commerce performance against physical store traffic and monitor consumer reactions to the 2.4% CPI rate.

With a trailing P/E above 46, the stock valuation may already reflect high levels of optimism.

Deere: Testing the Industrial Outlook

Deere enters its report facing different headwinds. Analysts predict that quarterly earnings per share will decrease by approximately 40% year over year due to rising interest rates, higher production costs, and decreased demand in the North American market for large agricultural machinery.

Despite these expectations, the stock has climbed to around $603 from a 52-week low of $404.42, and its all-time intraday high of $626.25 was set earlier this month. The company's $20 billion US manufacturing expansion plan has been a key driver of the stock's rally. The company has announced plans to construct a $125 million parts distribution centre in Indiana, together with a $70 million excavator facility in North Carolina, as part of its growth strategy.

Traders may need to track Deere's forward order book, tariff expenses and any updates on infrastructure or technology-related equipment demand.

What Else to Watch This Week

• Medtronic (MDT) reports Q3 FY2026 on Tuesday, 17 February. Consensus EPS is $1.33 on revenue of $8.9 billion.

• Pending Home Sales for January 2026 are scheduled to be released on Thursday, 19 February.

• Coca-Cola, which reported on 10 February, beat EPS estimates at $0.58 but missed on revenue at $11.82 billion versus the $12.03 billion consensus. The company guided for 4%-5% organic revenue growth in 2026.

Risk Box

Walmart and Deere both release results before the market opens on Thursday, 19 February. Price gap risk remains elevated at market open, while the trading week may become more volatile due to economic data releases on Thursday and Friday. The results from one quarter should not be over-extrapolated; a single weak or strong report does not confirm a trend. Traders may want to keep in mind potential volatility.  

Conclusion

The upcoming earnings reports from Walmart and Deere will merge company-specific data with current macroeconomic indicators, including flat retail sales and cooling inflation rates that have dominated recent headlines. Together, they may offer traders a better understanding of US economic performance expectations for the second quarter of the year.

*Past performance does not reflect future results. The above is for marketing and general informational purposes only, and are only projections and should not be taken as investment research, investment advice or a personal recommendation.