Fourth-quarter highlights
- Diluted EPS was $1.22, which includes the impact of the discrete items detailed in this press release. Excluding these items1, EPS was $1.30.
- Total revenue was $130.9 billion, an increase of 1.0%. Excluding currency1 , total revenue was $133.6 billion, an increase of 3.0%.
- Walmart U.S. comp sales increased 1.8%, driven by a traffic increase of 1.4%. Neighborhood Market comps increased approximately 5.3%.
- E-commerce growth at Walmart U.S. was strong as sales and GMV increased 29.0% and 36.1%, respectively, including Jet.com and online grocery.
- Net sales at Walmart International were $31.0 billion, a decrease of 5.1%. Excluding currency1 , net sales were $33.7 billion, an increase of 3.0%.
- The company generated $11.9 billion in operating cash flow and returned $3.6 billion to shareholders through dividends and share repurchases.
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Fiscal 2017 highlights
- Diluted EPS from continuing operations was $4.38, which includes certain discrete items detailed in this press release. Excluding these items1 , EPS was $4.32.
- Total revenue was $485.9 billion, an increase of 0.8%. Excluding currency1 , total revenue was $496.9 billion, an increase of 3.1%.
- Operating income was $22.8 billion, a decrease of 5.6%. Excluding currency1 , operating income was $23.4 billion, a decrease of 2.9%.
- The company generated $31.5 billion in operating cash flow and returned $14.5 billion to shareholders through dividends and share repurchases.
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Key results
(Amounts in millions, except as noted)
Q4 FY17 Q4 FY16 $ Change % Change Revenue $130,936 $129,667 $1,269 1.0% Revenue (constant currency)1 $133,584 $129,667 $3,917 3.0% Operating income $6,205 $6,642 -$437 -6.6% Operating income (constant currency)1 $6,414 $6,642 -$228 -3.4% Free Cash Flow FY17 $ Change Shareholders Returns FY17 $ Change Operating cash flow $31,530 $4,141 Dividends $6,216 -1.2% Capital expenditures $10,619 -$858 Share repurchases2 $8,298 101.8% Free cash flow1 $20,911 $4,999 Total $14,514 39.5% 1 See additional information at the end of this release regarding non-GAAP financial measures.
Guidance
The company's guidance for earnings per share assumes currency exchange rates remain at current levels. Additionally, this guidance assumes the full-year effective tax rate will be around 32%.
- Fiscal year 2018 EPS: $4.20 to $4.40
- First quarter fiscal year 2018 EPS: $0.90 to $1.00
- Comp sales for the 13-week period ending Apr. 28, 2017:
- Walmart U.S.: +1.0% to +1.5%
- Sam's Club (ex. fuel): approximately +1.0%
Segment results
Walmart U.S.
Q4 FY17 Q4 FY16 $ Change % Change Net Sales $83,747 $81,462 $2,285 2.8% Comp Sales3 1.8% 0.6% 120 bps N/A Traffic 1.4% 0.7% 70 bps N/A Ticket 0.4% -0.1% 50 bps N/A E-commerce ~40 bps ~30 bps ~10 bps N/A Operating Income $4,995 $5,123 -$128 -2.5% International
Q4 FY17 Q4 FY16 $ Change % Change Net sales $31,025 $32,682 -$1,657 -5.1% Net sales (constant currency)1 $33,661 $32,682 $979 3.0% Operating income $1,513 $1,661 -$148 -8.9% Operating income (constant currency)1 $1,724 $1,661 $63 3.8% Sam's Club
Q4 FY17 Q4 FY16 $ Change % Change Net sales $14,978 $14,540 $438 3.0% Comp sales (ex. fuel)1,3 2.4% -0.5% 290 bps N/A Traffic 1.2% -1.4% 260 bps N/A Ticket 1.2% 0.9% 30 bps N/A E-commerce ~80 bps ~80 bps ~0 bps N/A Operating income $390 $426 -$36 -8.5% 1 See additional information at the end of this release regarding non-GAAP financial measures.
2 $9.2 billion remaining of $20 billion authorization approved in October 2015. The company repurchased approximately 120 million shares in fiscal 2017.
3 13-week period ended Jan. 27, 2017, compared to 13-week period ended Jan. 29, 2016.Net EPS impact of discrete items
The net EPS impact of certain discrete items included in the company's reported fourth quarter and fiscal year results from continuing operations was -$0.082 and $0.062 per share, respectively. The discrete items and the respective EPS impact, net of tax1 , included in the reported results were as follows:Q4 fiscal year 2017, net of tax1
U.S. discontinued real estate projects and severance -$0.08 Fiscal year 2017, net of tax1
Gain on the sale of Yihaodian in China $0.14 U.S. discontinued real estate projects and severance -0.08 $0.06 During fiscal year 2016, the net impact to EPS from discrete items included in the company's reported fourth quarter and full year results from continuing operations was -$0.062 and -$0.022 per share. [Note: Details provided in press release issued Feb. 18, 2016.]
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 11,695 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.
Investor Relations contact
Steve Schmitt (479) 258-7172Media Relations contact
Randy Hargrove (800) 331-0085Along with this press release, Walmart makes available a recorded call with executive leaders and a financial presentation to review business results, provide strategic updates, and comment on expectations for the future. We provide that call in both audio form and in a written transcript. Details on accessing the call are as follows:
- 877-523-5612 (U.S. and Canada)
- 201-689-8483 (other countries)
- Passcode: 9256278 (Walmart)
- MP3 @ stock.walmart.com
The call is archived at stock.walmart.com
1 Calculated based on nature of item and statutory rate in effect for relevant jurisdiction.
2 See additional information at the end of this release regarding non-GAAP financial measures.
