Walmart U.S. Q1 comp sales1 grew 6.0%; 16.0% on a two-year stack. Q1 FY22 GAAP EPS of $0.97; Adjusted EPS2 of $1.69. Walmart U.S. eCommerce sales increased 37%. Walmart U.S. gains market share in grocery. Company raises outlook for Q2 and full-year.
Q1 FY22 Earnings at a Glance
Total Revenue
Total revenue was $138.3 billion, an increase of $3.7 billion, or 2.7%. Revenue was negatively affected by approximately $4.2 billion related to recent divestitures in Walmart International. Excluding currency2, total revenue would have increased 2.1% to reach $137.4 billion.
U.S. Comp Sales
Walmart U.S. comp sales1 increased 6.0% with market share gains in grocery. Operating income increased 26.8%.
Walmart U.S. eCommerce
Walmart U.S. eCommerce sales grew 37% with strong results across all channels, contributing approximately 360 basis points to comp sales. Sales more than doubled over the last two years.
Sam's Club Comp Sales
Sam’s Club comp sales1 increased 7.2%, and eCommerce sales grew 47%. Reduced tobacco sales negatively affected comp sales by approximately 340 basis points. Membership income increased 12.7%, and total member count reached an all-time high.
Walmart International
Walmart International net sales were $27.3 billion, a decrease of $2.5 billion, or 8.3%, and eCommerce sales increased 49%. Net sales were negatively affected by $4.2 billion, or 14.1%, related to recent divestitures, and changes in currency exchange rates positively affected net sales by approximately $0.9 billion.
Operating Income
Consolidated operating income was $6.9 billion, an increase of 32.3%, with strength across the company. Recently divested businesses in the U.K. and Japan contributed operating income of $289 million, or $0.07 of EPS.
Earnings Per Share
Adjusted EPS2 excludes the effects, net of tax, of: net losses on equity investments of $0.57; and an incremental loss on the sale of our operations in the U.K. and Japan of $0.15.
1 Comp sales for the 13-week period ended April 30, 2021 compared to 13-week period ended May 1, 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.
