Walmart reports strong revenue growth of 5.2% with strength across segments; eCommerce up 15% globally; GAAP EPS of $0.17; Adjusted EPS of $1.53; Raises FY24 sales and Adjusted EPS guidance

Rhea-AI Summary

Walmart Inc. (NYSE: WMT) reported third-quarter highlights, including a 5.2% increase in consolidated revenue to $160.8 billion, a 32bps rise in consolidated gross margin rate, a 182bps decrease in consolidated operating expenses as a percentage of net sales, and a 130.1% increase in consolidated operating income. The company's adjusted EPS was $1.53, and it will hold a live conference call on November 16, 2023, to discuss the earnings results.

BENTONVILLE, Ark.--(BUSINESS WIRE)-- Walmart Inc. (NYSE: WMT):

Third-quarter highlights:

• Consolidated revenue of $160.8 billion, up 5.2%, or 4.3% in constant currency (“cc”)
• Consolidated gross margin rate up 32bps positively affected by a slight improvement for Walmart U.S. and timing of Flipkart’s The Big Billion Days (“BBD”) event, which flipped from Q3 last year to Q4 this year
• Consolidated operating expenses as a percentage of net sales down 182bps, lapping a discrete charge from last year. On an adjusted basis, up 37bps on variable pay expenses and store remodels
• Consolidated operating income up $3.5 billion, or 130.1%, adjusted operating income up 3.0% positively affected by the impact of currency and LIFO of 2.7% and 1.9%, respectively
• ROA at 6.5%; ROI at 14.1%, up 130 bps
• Global advertising business grew approximately 20%, affected by BBD moving to Q4 . Walmart Connect up 26%, Sam’s Club MAP up 27%
• Walmart U.S. comp sales up 4.9% and eCommerce up 24%, led by pickup & delivery
• Adjusted EPS of $1.53 excludes the effects, net of tax, of $1.36 from net losses on equity and other investments

The company will hold a live conference call with the Investment Community at 7 a.m. CST Thursday, Nov. 16, 2023, to discuss the company’s third quarter earnings results for fiscal year 2024. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/news/events and selecting the Third Quarter Earnings Release event. The webcast will be archived and available on the company website.

About Walmart

Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 240 million customers and members visit approximately 10,500 stores and numerous eCommerce websites in 19 countries. With fiscal year 2023 revenue of $611 billion, Walmart employs approximately 2.1 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 corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115656675/en/

Investor Relations Contacts

Steph Wissink

Senior Vice President, Investor Relations

ir@walmart.com



Kary Brunner

Sr. Director, Investor Relations



Media Relations Contact

Randy Hargrove

Sr. Director, Global Communications

800-331-0085

Source: Walmart Inc.

FAQ

What is Walmart Inc.'s ticker symbol?

Walmart Inc.'s ticker symbol is WMT.

When will Walmart Inc. hold a live conference call to discuss its third-quarter earnings results?

Walmart Inc. will hold a live conference call on November 16, 2023, to discuss its third-quarter earnings results.

What was the percentage increase in Walmart U.S. comp sales?

Walmart U.S. comp sales increased by 4.9%.

What was the percentage increase in Walmart U.S. eCommerce sales?

Walmart U.S. eCommerce sales increased by 24%.