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Walmart Releases Q1 FY20 Earnings - Mood Baby

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Walmart Releases Q1 FY20 Earnings

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Posted on: May 16, 2019
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http://news.walmart.com/2019/05/16/walmart-releases-q1-fy20-earnings

<br/><br/><br/><br/><br/><br/><h2 class="cms-heading-h2">Key results</h2><sub>(Amounts in billions, except as noted. Dollar and percentage changes may not recalculate due to rounding.)</sub><br/><br/><aside><div style="overflow-x:auto;"><br/><br/><table> <tbody><tr> <td><h2 class="cms-heading-h2">Walmart</h2></td> <td>Q1 FY20</td> <td>Q1 FY19</td> <td>$ Change</td> <td>% Change</td> <td></td> <td>FY19</td> <td>FY18</td> <td>$ Change</td> <td>% Change</td> </tr> <tr> </tr> <tr> <td>Revenue</td> <td>$123.9</td> <td>$122.7</td> <td>$1.2</td> <td>1.0%</td> <td></td> <td>$514.4</td> <td>$500.3</td> <td>$14.1</td> <td>2.8%</td> </tr> <tr> <td>Revenue (constant currency)<sup>2</sup></td> <td>$125.8</td> <td>$122.7</td> <td>$3.1</td> <td>2.5%</td> <td></td> <td>$515.1</td> <td>$500.3</td> <td>$14.8</td> <td>3.0%</td> </tr> <tr> <td>Operating income</td> <td>$4.9</td> <td>$5.2</td> <td>-$0.2</td> <td>-4.1%</td> <td></td> <td>$22.0</td> <td>$20.4</td> <td>$1.5</td> <td>7.4%</td> </tr> <tr> <td>Operating income (constant currency)<sup>2</sup></td> <td>$5.0</td> <td>$5.2</td> <td>-$0.2</td> <td>-3.0%</td> <td></td> <td>$22.0</td> <td>$20.4</td> <td>$1.5</td> <td>7.4%</td> </tr> </tbody></table>  <br/> <br/><table> <tbody><tr> <td><div class="cms-textAlign-center"><b>Free Cash Flow<sup>2</sup></b></div></td> <td><div class="cms-textAlign-center">Q1 FY20</div></td> <td><div class="cms-textAlign-center">$ Change</div></td> <td><br><br></td> <td><div class="cms-textAlign-center"><b>Returns to Shareholders</b><b></b></div></td> <td><div class="cms-textAlign-center">Q1 FY20</div></td> <td><div class="cms-textAlign-center">% Change</div></td> </tr> <tr> <td>Operating cash flow<br><br></td> <td><div class="cms-textAlign-center">$3.6</div></td> <td><div class="cms-textAlign-center">-$1.6</div></td> <td><br><br></td> <td>Dividends<br><br></td> <td><div class="cms-textAlign-center">$1.5</div></td> <td><div class="cms-textAlign-center">-0.8%</div></td> </tr> <tr> <td>Capital expenditures<br><br></td> <td><div class="cms-textAlign-center">$2.2</div></td> <td><div class="cms-textAlign-center">$0.4</div></td> <td><br><br></td> <td>Share repurchases<sup>3</sup><br></td> <td><div class="cms-textAlign-center">$2.1</div></td> <td><div class="cms-textAlign-center">296.1%</div></td> </tr> <tr> <td><b>Free cash flow<sup>2</sup></b><br></td> <td><div class="cms-textAlign-center"><b>$1.4</b></div></td> <td><div class="cms-textAlign-center"><b>-$2.0</b></div></td> <td><br><br></td> <td><b>Total</b><b></b><br><br></td> <td><div class="cms-textAlign-center"><b>$3.7</b></div></td> <td><div class="cms-textAlign-center"><b>-76.4%</b></div></td> </tr> </tbody></table><br/><sup>1</sup><sub> 13-week period ended April 26, 2019 compared to 13-week period ended April 27, 2018, and excludes fuel. See Supplemental Financial Information for additional information.</sub><br/><sup>2</sup><sub> See additional information at the end of this release regarding non-GAAP financial measures. </sub><br/><sup>3</sup><sub> $9.2 billion remaining of $20 billion authorization approved in October 2017. The company repurchased approximately 22 million shares in the first quarter of fiscal 2020.</sub> <br/> <br/> <br/> <br/> <h2 class="cms-heading-h2">Segment results</h2><br/><sub><i>(Amounts in billions, except as noted. Dollar and percentage changes may not recalculate due to rounding.)</i></sub><br/><br/><br/><table> <tbody><tr> <td><span class="cms-rte_colors-rte_blue"><h2 class="cms-heading-h2">Walmart U.S.</h2></span></td> <td>Q1 FY20</td> <td>Q1 FY19</td> <td>$ Change</td> <td>% Change</td> </tr> <tr> <td>Net sales</td> <td>$80.3</td> <td>$77.7</td> <td>$2.6</td> <td>3.3%</td> </tr> <tr> <td>Comp sales (ex. fuel)<sup>1<b> </b></sup></td> <td>3.4%</td> <td>2.1%</td> <td>130 bps</td> <td>N/A</td> </tr> <tr> <td>Transactions<sup>2</sup></td> <td>1.1%</td> <td>1.4%</td> <td>-30 bps</td> <td>N/A</td> </tr> <tr> <td>Ticket<sup>2</sup></td> <td>2.3%</td> <td>0.7%</td> <td>160 bps</td> <td>N/A</td> </tr> <tr> <td>eCommerce</td> <td>~140 bps</td> <td>~100 bps</td> <td>~40 bps</td> <td>N/A</td> </tr> <tr> <td>Operating income</td> <td>$4.1</td> <td>$3.9</td> <td>$0.2</td> <td>5.5%</td> </tr> </tbody></table><p><br/><table> <tbody><tr> <td><h2 class="cms-heading-h2"><span class="cms-rte_colors-rte_orange">Walmart International</span></h2></td> <td>Q1 FY20</td> <td>Q1 FY19</td> <td>$ Change</td> <td>% Change</td> </tr> <tr> <td>Net sales</td> <td>$28.8</td> <td>$30.3</td> <td>&nbsp;-$1.5</td> <td>-4.9%</td> </tr> <tr> <td>Net sales (constant currency)<sup>3</sup></td> <td>$30.6</td> <td>$30.3</td> <td>$0.4</td> <td>1.2%</td> </tr> <tr> <td>Operating income</td> <td>$0.7</td> <td>$1.3</td> <td>-$0.5</td> <td>-41.7%</td> </tr> <tr> <td>Operating income (constant currency)<sup>3</sup></td> <td>$0.8</td> <td>$1.3</td> <td>-$0.5</td> <td>-37.5%</td> </tr> </tbody></table></p><p><br/><table> <tbody><tr> <td><span class="cms-rte_colors-rte_green"><h2 class="cms-heading-h2">Sam's Club</h2></span></td> <td>Q1 FY20</td> <td>Q1 FY19</td> <td>$ Change</td> <td>% Change</td> </tr> <tr> <td>Net sales</td> <td>$13.8</td> <td>$13.6</td> <td>$0.2</td> <td>1.5%</td> </tr> <tr> <td>Comp sales (ex. fuel)<b><sup>1</sup></b></td> <td>0.3%</td> <td>3.8%</td> <td>-350 bps</td> <td>N/A</td> </tr> <tr> <td>Transactions</td> <td>4.7%</td> <td>5.6%</td> <td>-90 bps</td> <td>N/A</td> </tr> <tr> <td>Ticket</td> <td>-4.4%</td> <td>-1.8%</td> <td>-260 bps</td> <td>N/A</td> </tr> <tr> <td>eCommerce</td> <td>~140 bps</td> <td>~100 bps</td> <td>~40 bps</td> <td>N/A</td> </tr> <tr> <td>Operating income</td> <td>$0.5</td> <td>$0.3</td> <td>$0.1</td> <td>38.8%</td> </tr> </tbody></table><br/><br/><br/><br/> </p></div></aside> <br/><br/><br/><sup>1</sup> <sub>13-week period ended April 26, 2019 compared to 13-week period ended April 27, 2018, and excludes fuel. See Supplemental Financial Information for additional information.</sub><br/><sup>2</sup><sub> In the first quarter of FY20, we updated our definition of traffic as a component of comparable sales to be all sales transactions in our stores as well as for eCommerce. Traffic will now be called transactions. For comparability, we revised this metric for FY19 and have provided a quarterly summary on our website at <a href="http://www.stock.walmart.com" target="_blank">http://www.stock.walmart.com</a>.</sub><br/><sup>3</sup> <sub>See additional information at the end of this release regarding non-GAAP financial measures.</sub><br/> <br/> <br/> <br/> <br/> <br/> <br/> <h2 class="cms-heading-h2">Additional highlights for the first quarter</h2><ul><li>Introduced increased rewards and protected PTO for U.S. associates</li><li>Launched free NextDay delivery from Walmart.com with plans to reach 75% of U.S. population by year's end</li><li>Introduced Walmart Voice Order, initially through the Google Assistant, to make basket building for online grocery orders even easier</li><li>Launched new personalized baby registry on Walmart.com</li><li>Introduced first online pet pharmacy, Walmartpetrx.com</li><li>Announced participation in the USDA's SNAP online purchasing pilot</li><li>Announced partnership with Affirm to allow customers to make purchases and pay over time at Walmart stores and online</li><li>Launched exclusive line of denim on Walmart.com with Sofia Vergara</li><li>Launched exclusive MoDRN brand in the Home category</li><li>Launched exclusive Hello Bello brand in the Baby category with Kristen Bell and Dax Shepard</li><li>Launched exclusive Flower brand in the Home category on Walmart.com with Drew Barrymore</li><li>Launched Evolution_18, a health &amp; wellness line from Bobbi Brown, in stores and online</li><li>Announced partnership with KIDBOX to deliver personalized kids fashion through Walmart.com</li><li>Announced the creation of a new Angus beef supply chain to service 500 U.S. stores</li><li>Launched new Intelligent Retail Lab in a live shopping environment to help unlock the possibilities of Artificial Intelligence</li><li>Acquired natural language processing startup, Aspectiva</li><li>Acquired assets of Polymorph Labs to expand in-house advertising technology</li><li>Announced the launch of PhonePe as a payment option at Walmart's &quot;B2B Cash &amp; Carry&quot; stores in India</li><li>Opened next generation Sam's Club in Shanghai</li><li>Launched a Super App solution with PhonePe in India</li><li>Launched Flipkart venture capital fund</li><li>Launched new reusable shopping bag campaign in U.S. stores</li><li>Announced new plastic packaging waste reduction commitments</li></ul><br/><br/><b>About Walmart</b><br/>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, over 275 million customers and members visit our more than 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs over 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 <a href="http://corporate.walmart.com/">http://corporate.walmart.com</a>, on Facebook at <a href="http://facebook.com/walmart" target="_blank">http://facebook.com/walmart</a> and on Twitter at <a href="http://twitter.com/walmart" target="_blank">http://twitter.com/walmart</a>.<br/> <div class="knotch_ab1039c8-cb63-4f1c-bc6f-1a18350e01d6"></div>

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