- Walmart revenue up 7.3% globally with broad-based strength across segments
- Walmart U.S. grew comp sales1 8.3%, with eCommerce growth of 17%
- Q4 FY23 GAAP EPS of $2.32; Adjusted EPS2 of $1.71
- Company provides outlook for Q1 and FY24
According to the company’s website news release on February 21, 2023:
Total Revenue - Total revenue was $164.0 billion, up 7.3%, or 7.9% in constant currency
U.S. Comp Sales - Walmart U.S. Q4 comp sales1 grew 8.3% and 13.9% on a two-year stack. Continued to gain market share in grocery.
Sam's Club Comp Sales - Sam’s Club comp sales increased 12.2%, and 22.6% on a two-year stack. Membership income increased 7.1% with member count at an all-time high.
Operating Income - Adjusted operating income was $6.4 billion, an increase of 6.9%.
Walmart U.S. eCommerce - Walmart U.S. eCommerce growth was 17% and 18% on a two-year stack.
Walmart International - Walmart International net sales were $27.6 billion, an increase of 2.1% and negatively affected by $0.9 billion from currency fluctuations, while constant currency sales were $28.5 billion, an increase of 5.5%. Walmex, China, and Canada led the way.
Earnings Per Share - GAAP EPS of $2.32; Adjusted EPS2 of $1.71 excludes the effects of $1.16 from net gains on equity and other investments and $0.55 from charges related to reorganization and restructuring.
Fourth-quarter highlights
- Walmart delivered strong revenue growth globally with strength in stores and eCommerce. Total revenue was $164.0 billion, up 7.3%, or 7.9% in constant currency.
- Walmart U.S. comp sales¹ grew 8.3% and 13.9% on a two- year stack. eCommerce growth was 17% and 18% on a two-year stack. Continued to gain market share in grocery.
- Sam's Club comp sales¹ increased 12.2%, and 22.6% on a two-year stack. Membership income increased 7.1% with member count at an all-time high.
- Walmart International net sales were $27.6 billion, an increase of 2.1% and negatively affected by $0.9 billion from currency fluctuations, while constant currency sales were $28.5 billion, an increase of 5.5%. Walmex, China, and Canada led the way.
- Global advertising business grew over 20%, led by 41% growth at Walmart Connect in the U.S.
- Consolidated gross profit rate declined 83 basis points, primarily due to markdowns and mix of sales.
- Consolidated operating expenses as a percentage of net sales decreased 44 basis points primarily due to strong sales growth and lower Covid-related costs, partially offset by reorganization and restructuring charges incurred in the International segment.
- Consolidated operating income was $5.6 billion, a decrease of 5.5%, including the charges described above. Adjusted operating income was $6.4 billion, an increase of 6.9%.
- GAAP EPS of $2.32; Adjusted EPS² of $1.71 excludes the effects of $1.16 from net gains on equity and other investments and $0.55 from charges related to reorganization and restructuring.
Full-year highlights
- Total revenue was $611.3 billion, up 6.7%, negatively affected by $5.0 billion related to divestitures. Excluding currency, total revenue would have increased 7.4% to $615.1 billion.
- Walmart U.S.comp sales¹ increased 6.6% and 13.0% on a two-year stack.
- Walmart U.S. eCommerce sales grew 12% and 23% on a two-year stack.
- Sam's Club comp sales¹ increased 10.5% and 20.3% on a two-year stack. Membership income increased 8.6%.
- Walmart International net sales were flat and operating income declined 21.1%. Net sales grew 9.0% and adjusted operating income grew 8.9% for retained markets on a constant currency basis.
- Global advertising business grew nearly 30% to reach $2.7 billion, led by Walmart Connect in the U.S. and Flipkart Ads.
- The company generated $29.1 billion in operating cash flow and returned $16.0 billion to shareholders through dividends and share repurchases.
- GAAP EPS of $4.27; Adjusted EPS² of $6.29.
