WMT
$129.70
Walmart
($2.55)
(1.93%)
Earnings Details
2nd Quarter July 2022
Tuesday, August 16, 2022 7:02:00 AM
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Summary

Walmart Beats

Walmart (WMT) reported 2nd Quarter July 2022 earnings of $1.77 per share on revenue of $152.9 billion. The consensus earnings estimate was $1.60 per share on revenue of $150.5 billion. The Earnings Whisper number was $1.49 per share. Revenue grew 8.4% on a year-over-year basis.

The company said it expects third quarter earnings of $1.29 to $1.32 per share on revenue of approximately $147.55 billion. The current consensus earnings estimate is $1.30 per share on revenue of $145.68 billion for the quarter ending October 31, 2022. The company also said it expects fiscal 2023 earnings of $5.81 to $5.88 per share on revenue of approximately $598.53 billion. The current consensus earnings estimate is $5.68 per share on revenue of $597.14 billion for the year ending January 31, 2023.

Wal-Mart Stores Inc, operates retail stores in various formats under various banners. Its operations comprise of three reportable business segments, Walmart U.S., Walmart International and Sam' Club in three categories retail, wholesale and others.

Results
Reported Earnings
$1.77
Earnings Whisper
$1.49
Consensus Estimate
$1.60
Reported Revenue
$152.86 Bil
Revenue Estimate
$150.51 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Walmart U.S. grew comp sales 6.5%, including mid-teens in food, and eCommerce up 12%

Q2 FY23 GAAP EPS of $1.88; Adjusted EPS of $1.77

Company maintains outlook for back-half of FY23

BENTONVILLE, Ark.--(BUSINESS WIRE)--

Walmart Inc. (NYSE: WMT):

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220815005707/en/

Second-quarter highlights:

  • Company delivered strong top-line growth globally, partially driven by inflation. Total revenue was $152.9 billion, up 8.4%, or 9.1% in constant currency.
  • Walmart U.S. comp sales grew 6.5% and 11.7% on a two-year stack. eCommerce growth was 12% and 18% on a two-year stack. Continued to gain market share in grocery.
  • Sam’s Club comp sales increased 9.5%, and 17.2% on a two-year stack. Membership income increased 8.9% with member count at an all-time high.
  • Walmart International net sales were $24.4 billion, an increase of $1.3 billion, or 5.7%, negatively affected by $1.0 billion from currency fluctuations. Double-digit comps in three largest markets of Mexico, Canada, and China.
  • Global advertising business grew nearly 30%, led by Walmart Connect in the U.S. and Flipkart advertising.
  • Consolidated gross profit rate declined 132 basis points, primarily due to markdowns and mix of sales in the U.S., and an inflation-related LIFO charge at Sam’s Club.
  • Consolidated operating expenses as a percentage of net sales decreased 45 basis points, primarily due to strong sales growth partially offset by wage investments.
  • Consolidated operating income was $6.9 billion, a decrease of 6.8%, positively affected by $173 million from an insurance settlement for Walmart Chile.
  • GAAP and Adjusted EPS include a $0.05 impact from the Walmart Chile insurance settlement discussed above, as well as a $0.05 impact from a dividend related to the Company’s equity investment in JD.com.

The company will hold a live conference call with the Investment Community at 7 a.m. CDT Tuesday, Aug. 16, 2022, to discuss the company’s second quarter earnings results for fiscal year 2023. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/newsroom/financial-events and selecting the Second Quarter Earnings Release event. The webcast will be archived and available beginning at approximately noon CDT Aug. 16.

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and numerous eCommerce websites under 46 banners in 24 countries. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting https://corporate.walmart.com, on Facebook at https://facebook.com/walmart and on Twitter at https://twitter.com/walmart.

Investor Relations Contacts
Dan Binder, CFA
Sr. Vice President: Global Treasurer, Tax, Claims Administration, & Investor Relations
Daniel.Binder@walmart.com

Kary Brunner
Sr. Director II, Investor Relations
Kary.Brunner@walmart.com

Media Relations Contact
Randy Hargrove
Sr. Director, Global Communications
800-331-0085

Source: Walmart Inc.