Walmart U.S. Q3 comps(1) grew 2.7% and Walmart U.S. eCommerce sales grew 50%,Company reports Q3 FY18 GAAP EPS of $0.58; Adjusted EPS(2) of $1.00

Nov. 16, 2017

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  • The company's third-quarter GAAP EPS was adjusted2 for three items. A charge of $0.29 for loss on extinguishment of debt in connection with the company's recently completed debt tender offer, a charge of $0.09 based on discussions with government agencies regarding the possible resolution of the FCPA matter, and a charge of $0.04 based on the decision to exit certain properties in one of the company's international markets.
  • Total revenue was $123.2 billion, an increase of $5.0 billion, or 4.2%. Excluding currency2, total revenue was $122.7 billion, an increase of $4.5 billion, or 3.8%.
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  • Walmart U.S. comp sales1 increased 2.7%, and comp traffic increased 1.5%.
  • eCommerce growth at Walmart U.S. remained strong, led by growth through Walmart.com. Net sales and GMV3 increased 50% and 54%, respectively.
  • Net sales at Walmart International were $29.5 billion, an increase of 4.1%. Excluding currency2, net sales were $29.1 billion, an increase of 2.5%. Ten of eleven markets posted positive comp sales, including our four largest markets.

View earnings presentation

Key Results

(Amounts in millions, except as noted)


Q3 FY18

Q3 FY17

$ Change

% Change






Revenue (constant currency)2





Operating income





Operating income (constant currency)2





Free Cash Flow


$ Change

Returns to Shareholders

Q3 FY18

% Change

Operating cash flow






Capital expenditures



Share repurchases4



Free cash flow2






1 Represents Walmart U.S. comparable sales excluding fuel. Including fuel, Walmart U.S. comparable sales grew 2.8%. See additional information at the end of this release regarding non-GAAP financial measures.
2 See additional information at the end of this release regarding non-GAAP financial measures.
3 GMV represents the total U.S. dollar volume of merchandise sold or services rendered for all transactions, including marketplace transactions, that are generally initiated through our eCommerce platforms or include our owned inventory sold on other third party platforms. For additional information, visit stock.walmart.com.
4 The company repurchased approximately 27 million shares in Q3 FY18 under the $20 billion authorization approved in October 2015. Effective November 20, 2017, share repurchases will be made under the company’s $20 billion share repurchase authorization approved in October 2017.


  • Fiscal year 2018 GAAP EPS: $3.84 to $3.92
  • Fiscal year 2018 Adjusted EPS1: $4.38 to $4.46

Comp sales for the 13-week period ending Jan. 26, 2018:

  • Walmart U.S. (ex. fuel)1+1.5% to +2.0%
  • Sam's Club (ex. fuel)1: +1.5% to +2.0%

Segment Results

(Amount in millions, except as noted)

Walmart U.S.

Q3 FY18Q3 FY17$ Change% Change
Net sales$77,724$74,550$3,1744.30%
Comp sales (ex. fuel)1,22.70%1.20%150 bpsN/A
Traffic1.50%0.70%80 bpsN/A
Ticket1.20%0.50%70 bpsN/A
eCommerce~80 bps~50 bps~30 bpsN/A
Operating income$4,030$3,999$310.80%

Walmart International

Q3 FY18Q3 FY17$ Change% Change
Net sales$29,548$28,390$1,1584.10%
Net sales (constant currency)1$29,094$28,390$7042.50%
Operating income$1,249$1,354($105)-7.80%
Operating income (constant currency)1$1,189$1,354($165)-12.20%

Sam's Club Q3 FY18Q3 FY17$ Change% Change
Net sales$14,864$14,236$6284.40%
Comp sales (ex. fuel)1,22.80%1.40%140 bpsN/A
Traffic3.60%-0.50%410 bpsN/A
Ticket-0.80%1.90%-270 bpsN/A
eCommerce~80 bps~60 bps~20 bpsN/A
Operating income$447$396$5112.90%

1 See additional information at the end of this release regarding non-GAAP financial measures.
2 13-week period ended Oct. 27, 2017, compared to 13-week period ended Oct. 28, 2016, and excludes fuel.

Wal-Mart Stores, 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 260 million customers and members visit our more than 11,600 stores under 59 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2017 revenue of $485.9 billion, Walmart employs approximately 2.3 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 http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.

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The call is archived at stock.walmart.com