Walmart Releases Q2 FY22 Earnings

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Earnings Release
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Earnings Presentation
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• Walmart U.S. Q2 comp sales1 grew 5.2%; 14.5% two-year stack; Comp transactions strong at 6.1%
• Q2 FY22 GAAP EPS of $1.52; Adjusted EPS2,5 of $1.78
• Company raises outlook for second consecutive quarter
• Expecting FY22 Walmart U.S. comp sales of 5% to 6% and Global eCommerce sales of $75 billion

 

Q2 FY22 Earnings at a Glance

Total Revenue
Total revenue was $141.0 billion, up 2.4%, negatively affected by approximately $8.9 billion related to divestitures. Excluding currency2, total revenue would have increased 0.6% to $138.6 billion.
U.S. Comp Sales
Walmart U.S. Q2 comp sales1 grew 5.2%. Walmart U.S. grew market share in grocery. Comp transactions were strong at 6.1%, led by stores. Walmart U.S. operating income increased 20.4%. Adjusted operating income2 increased 12.0%.
Walmart U.S. eCommerce
Walmart U.S. eCommerce sales grew 6% and 103% on a two-year stack.
Sam's Club Comp Sales
Sam’s Club comp sales1 increased 7.7%, and eCommerce sales grew 27%. Membership income increased 12.2% with member count reaching an all-time high.
Walmart International
Walmart International net sales were $23.0 billion, a decrease of $4.1 billion, or 15.2%, negatively affected by $8.9 billion related to divestitures. Changes in currency exchange rates positively affected net sales by approximately $2.4 billion.
Operating Income
Consolidated operating income was $7.4 billion, an increase of 21.4%, with strength across the company. Consolidated operating income as a percentage of net sales increased 83 basis points; adjusted4 increased 50 basis points.
Adjusted EPS
Adjusted EPS2 of $1.78 excludes the effects, net of tax, of net losses on equity investments of $0.26.

1 Comp sales for the 13-week period ended July 30, 2021, compared to 13-week period ended July 31, 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 consolidated operating expenses as a percentage of net sales excludes a 34 basis point impact for adjustments to fiscal 2021 operating expenses reflected in the non-GAAP reconciliation of adjusted operating income at the end of this release.
4 Adjusted consolidated operating income as a percentage of net sales excludes a 33 basis point impact for adjustments to fiscal 2021 operating income reflected in the non-GAAP reconciliation of adjusted operating income at the end of this release.
5 Adjusted EPS excludes the effects, net of tax, of net losses on equity investments of $0.26.

 

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