Jefferies analysts anticipate Walmart's Q2 comparable sales growth of 3.6% and EPS of $0.74, broadly in line with consensus. The firm notes that management emphasizes a consistent strategy of price leadership, including plans to funnel potential tariff refunds into lower prices to widen price gaps and drive market share gains, particularly in consumables. Investors are also keen on understanding the implied second-half guidance and how management characterizes the company's earnings power beyond Q2.