Walmart U.S. Q3 comp sales grew 9.2%; 15.6% two-year stack; Comp transactions up 5.7%
16 November 2021 - 11:03PM
Business Wire
Q3 FY22 GAAP EPS of $1.11; Adjusted EPS of
$1.45 Company expects Walmart U.S. Q4 comp sales of around
5%; Raises EPS guidance for third consecutive quarter
Walmart U.S. inventory up 11.5% ahead of holidays
Walmart Inc. (NYSE: WMT):
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Third quarter highlights:
- Walmart raises full-year guidance
- Walmart U.S. comp sales above 6%, excluding fuel
- FY22 GAAP EPS of around $5.00; Adjusted EPS of around $6.40
versus prior guidance of $6.20-$6.35
- FY22 capital expenditures of around $13 billion
- Total revenue was $140.5 billion, up 4.3%, negatively affected
by approximately $9.4 billion related to divestitures. Excluding
currency, total revenue would have increased 3.3% to $139.2
billion
- Walmart U.S. eCommerce sales grew 8% for the quarter and 87% on
a two-year stack.
- Sam’s Club comp sales increased 13.9%, and 25% on a two-year
stack. E-commerce sales grew 32%. Membership income increased
11.3%, which is the fifth consecutive quarter of double-digit
growth.
- Walmart International net sales were $23.6 billion, a decrease
of $5.9 billion, or 20.1%, negatively affected by $9.4 billion
related to divestitures. Changes in currency exchange rates
positively affected net sales by approximately $1.3 billion.
Flipkart, China, and Mexico delivered strong growth in
eCommerce.
- Consolidated gross profit rate decreased 42 basis points,
primarily due to increased supply chain costs, a higher mix of
lower margin fuel business in the U.S. and a shifting international
format mix.
- Consolidated operating expenses as a percentage of net sales
declined 4 basis points reflecting strong sales growth and lower
expenses for COVID-19, offset by investments in wages.
- Consolidated operating income was $5.8 billion, an increase of
0.2%, negatively affected by $0.4 billion related to divestitures,
or about 750 basis points.
- Repurchased $7.4 billion in shares year to date, representing
around 35% of the $20 billion authorization announced earlier this
year.
The company will hold a live conference call with the Investment
Community at 7 a.m. CST on Tuesday, November 16, 2021, to discuss
the company’s third quarter earnings results for fiscal year 2022.
The event will be webcast live and accessible by logging onto
https://corporate.walmart.com/newsroom/financial-events and
selecting the Third Quarter Earnings Release event.
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
220 million customers and members visit approximately 10,500 stores
and clubs under 48 banners in 24 countries and eCommerce websites.
With fiscal year 2021 revenue of $559 billion, Walmart employs 2.2
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.
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Investor Relations Contacts Dan Binder, CFA Sr. Vice
President, Investor Relations and Interim Corporate FP&A
479-277-0485
Kary Brunner Sr. Director II, Investor Relations
479-381-9268
Media Relations Contact Randy Hargrove Sr. Director,
Global Communications 800-331-0085
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