Company delivers strong revenue growth of 8.7% with strength across segments; Q3 FY23 GAAP EPS of ($0.66); Adjusted EPS of $1.50; Company raises full-year outlook on strong results for Q3
Third-quarter highlights:
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Company delivered strong revenue growth globally, with strength in
Walmart U.S ., Sam’s ClubU.S. ,Flipkart , and Walmex. Total revenue was , up$152.8 billion 8.7% , or9.8% in constant currency. -
Walmart U.S . comp sales grew8.2% and17.4% on a two-year stack. eCommerce growth was16% and24% on a two-year stack. Continued to gain market share in grocery. -
Sam’s Club comp sales increased
10.0% , and23.9% on a two-year stack. Membership income increased8.0% with member count reaching an all-time high. -
Walmart International net sales were , an increase of$25.3 billion , or$1.7 billion 7.1% , negatively affected by from currency fluctuations. Segment operating income led by double-digit growth for Walmex.$1.5 billion -
Global advertising business grew over
30% , led by40% atWalmart Connect in theU.S. and strength inFlipkart Ads. -
Consolidated gross profit rate declined 89 basis points, primarily due to markdowns and mix of sales in the
U.S. , an inflation-related LIFO charge at Sam’s Club, and the timing of Flipkart’s annual event, The Big Billion Days. -
Consolidated operating expenses as a percentage of net sales increased 144 basis points due to charges of
related to opioid legal settlements. Adjusted operating expenses as a percentage of net sales decreased 75 basis points, primarily due to strong sales growth and lower Covid-related costs.$3.3 billion -
Consolidated operating income was
, a decrease of$2.7 billion 53.5% , including the legal charges described above. Adjusted operating income was , an increase of$6.0 billion 3.9% . -
Adjusted EPS of
excludes the effects, net of tax, of$1.50 from net losses on equity and other investments and$1.11 from charges related to opioid legal settlements.$1.05 -
Subsequent to the third quarter the Company approved a new
share repurchase authorization replacing its existing authorization, which had approximately$20 billion remaining at the end of Q3.$1.9 billion
The company will hold a live conference call with the Investment Community at
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Investor Relations Contacts
Senior Vice President, Investor Relations
Stephanie.Wissink@walmart.com
Sr. Director II, Investor Relations
Kary.Brunner@walmart.com
Media Relations Contact
Sr. Manager,
800-331-0085
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