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Target (TGT) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 19, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

2.26

Last Year’s EPS

2.05

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 28 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 20, 2026|

% Change Since:

Earnings Call Sentiment|Positive

Cautiously positive. The quarter delivered stronger‑than‑expected top‑line performance, meaningful digital momentum, improved gross margin and inventory productivity, plus early merchandising proof points and expanded network capacity. However, GAAP EPS declined, SG&A and operating margins remain pressured by investments and prior‑year distortions, some categories (home and apparel) have not yet recovered, and the company faces tougher comps and near‑term cost headwinds. Management is pursuing an ambitious multi‑year merchandising and operational overhaul, and while early signals are encouraging, execution risk and macro uncertainty remain.

Company Guidance

Target updated FY2026 guidance, now planning full‑year net sales growth centered around 4% (up ~2 percentage points from its prior range) and expects to finish the year near the high end of its previously communicated EPS range of $750–$850 million after a stronger‑than‑expected Q1 (Q1 net sales $25.4B; comps +5.6%; 2‑yr +3.7%; traffic +4.4%). Q1 operating metrics included first‑party digital sales ~+9% with same‑day delivery +27% and Target Plus GMV ~+60%; gross margin ~29% (+~80 bps YoY); SG&A rate 21.9% (adjusted SG&A growth ~7%); operating margin 4.5%; GAAP and adjusted EPS $1.71 (GAAP -24% YoY; adjusted +32% YoY). Management warned of a tougher Q2 comp (nearly 2 percentage points vs. last year’s Nintendo Switch 2 launch), expects cost headwinds more pronounced in H1 that moderate in H2, is investing ~$5B in CapEx for the year (Q1 CapEx ≈ $1B), paid $516M in Q1 dividends, opened 7 stores (including the 2,000th) and plans >30 openings plus 100+ remodels, and noted inventory productivity improvement (turns +>10% YoY) while monitoring freight and maintaining middle‑A credit rating.

Top-Line Growth and Comparable Sales

Q1 net sales of $25.4 billion, up 6.7% year-over-year and 3.7% versus two years ago; comparable sales increased 5.6%, driven primarily by a 4.4% increase in traffic.

Digital and Same‑Day Momentum

First‑party digital sales grew nearly 9% with same‑day delivery up more than 27%; Target Plus third‑party GMV grew nearly 60% in Q1, supporting omnichannel strength.

Gross Margin Improvement and Productivity

Gross margin rate of ~29%, roughly 80 basis points higher than a year ago due to productivity initiatives, supply‑chain leverage and growth in higher‑margin revenue streams (Roundel, Target Plus).

Inventory Productivity and Availability Progress

Inventory turns increased more than 10% year‑over‑year; top item availability and overall in‑stocks improved meaningfully in Q1, with targeted investments in forecasting and upstream capacity.

Category and Assortment Proof Points

Major merchandising initiatives showing early success: 3,000 new food items (sales from new items +50% vs prior assortment), ~1,500 wellness items with double‑digit sales growth, toys delivered double‑digit comp growth, baby comp trend accelerated >5 percentage points after new offerings.

Successful Limited‑Time Partnerships and Cultural Drops

Partnership drops (Parke, Roller Rabbit, Pokemon, K‑Pop/BTS) exceeded expectations, drove record social engagement and launch‑week sales, created traffic and buzz.

Operational Investments and Network Expansion

Opened 7 new stores including the 2,000th location; on track for >30 new stores this year; ~100 remodels underway; new Houston receive center (expected ~25M cartons/year) and Colorado food distribution center to expand capacity.

Capital Allocation Discipline and Dividend Growth

Q1 CapEx of about $1 billion with full‑year CapEx expected near $5 billion to support growth priorities; paid $516 million in dividends (per share dividend +1.8%); preserving credit rating discipline before resuming buybacks later in the year.

Management Changes and Talent Additions

Leadership realignments with Cara Sylvester as CMO and Lisa Roath as COO; hire of Jeff England as Chief Global Supply Chain & Logistics Officer to accelerate supply‑chain improvements.

Earnings Outlook Upgrade

Raised full‑year net sales guidance to a range centered around +4% (up ~2 percentage points from prior range); expecting to finish the year near the high end of previously provided operating profit / EPS range following Q1 upside.

Target (TGT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TGT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Play Transcript
Aug 19, 2026	2026 (Q2)	2.26 / -	2.05	―	―
May 20, 2026	2026 (Q1)	1.47 / 1.71	1.3	31.54% (+0.41)
Mar 03, 2026	2025 (Q4)	2.16 / 2.44	2.41	1.24% (+0.03)
Nov 19, 2025	2025 (Q3)	1.71 / 1.78	1.85	-3.78% (-0.07)
Aug 20, 2025	2025 (Q2)	2.04 / 2.05	2.57	-20.23% (-0.52)
May 21, 2025	2025 (Q1)	1.56 / 1.30	2.03	-35.96% (-0.73)
Mar 04, 2025	2024 (Q4)	2.27 / 2.41	2.98	-19.13% (-0.57)
Nov 20, 2024	2024 (Q3)	2.30 / 1.85	2.1	-11.90% (-0.25)
Aug 21, 2024	2024 (Q2)	2.18 / 2.57	1.8	42.78% (+0.77)
May 22, 2024	2024 (Q1)	2.05 / 2.03	2.05	-0.98% (-0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TGT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 20, 2026	$127.24	$122.33	-3.86%
Mar 03, 2026	$112.11	$119.67	+6.74%
Nov 19, 2025	$86.82	$84.42	-2.77%
Aug 20, 2025	$102.04	$95.58	-6.33%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.