Walmart Releases Q3 FY22 Earnings

Nov. 16, 2021

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  • Walmart U.S. Q3 comp sales1 grew 9.2%; 15.6% two-year stack; Comp transactions up 5.7%
  • Q3 FY22 GAAP EPS of $1.11; Adjusted EPS2,3 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


Q3 FY22 Earnings at a Glance

Total Revenue

Total revenue was $164.0 billion, up 7.3%, or 7.9% in constant currency2.

U.S. Comp Sales

Walmart U.S. Q3 comp sales1 grew 9.2%. 15.6% two-year stack. Comp transactions up 5.7%.

Walmart U.S. eCommerce

Walmart U.S. eCommerce sales grew 8% for the quarter and 87% on a two-year stack.

Sam's Club Comp Sales

Sam’s Club comp sales1 increased 13.9%, and 25% on a two-year stack. eCommerce sales grew 32%. Membership income increased 11.3%, which is the fifth consecutive quarter of double-digit growth.

Walmart International

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.

Operating Income

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.

Earnings Per Share

Adjusted EPS2 of $1.45 excludes the effects, net of tax, of a loss on extinguishment of debt of $0.67 and net gains on equity investments of $0.33.

1 Comp sales for the 13-week period ended October 29, 2021 compared to 13-week period ended October 30, 2020, and excludes fuel. See Supplemental Financial Information for additional information.
2 See additional information at the end of this release regarding non-GAAP financial measures.
3 Adjusted EPS excludes the effects, net of tax, of a loss on extinguishment of debt of $0.67 and net gains on equity investments of $0.33.
4 Fiscal year 2022 GAAP EPS and Adjusted EPS guidance reflects year to date GAAP EPS and Adjusted EPS, respectively, for the nine months ended October 31, 2021, and updated expectations for the fourth quarter. The Company’s fourth quarter expectations exclude certain elements that the company cannot predict such as the impact of foreign exchange translation and externally adjusted items.


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