Walmart U.S. net sales exceed $105 billion in Q4; comp sales grew 5.6%

Q4 FY22 GAAP EPS of $1.28; Adjusted EPS of $1.53

Company guides FY23 in-line with growth algorithm outlined last February

Planned share repurchases of at least $10 billion in FY23

Walmart Inc. (NYSE:WMT):

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Fourth-quarter highlights:

Company delivers strong holiday results globally. Total revenue was $152.9 billion, up 0.5%, negatively affected by $10.2 billion due to divestitures.
Strong sales in Walmart U.S. with market share gains in grocery. eCommerce sales grew 1% and 70% on a two-year stack.
Competitive pricing remains in focus globally. Consolidated gross profit rate up 10 bps; 54 bps in Walmart U.S.
Sam's Club comp sales increased 10.4%, and 21.2% on a two-year stack. Membership income increased 9.1%.
Walmart International net sales were $27.0 billion, a decrease of $7.9 billion, or 22.6%, negatively affected by $10.1 billion due to divestitures. China, Mexico and Flipkart delivered strong growth.
Navigated higher supply chain costs and pandemic-related challenges well, while executing strategic initiatives. Consolidated operating expenses as a percentage of net sales was relatively flat.
Consolidated operating income was $5.9 billion, an increase of 7.3%. Adjusted operating income increased 5.9%. Both were negatively affected by about 60 basis points due to divestitures.
Company prioritizes in-stock levels. Inventory up 26% globally; 28% in the U.S., affected by higher cost of goods, mix, and higher in-transit shipments.

Full-year highlights:

Total revenue was $572.8 billion, up 2.4%, negatively affected by $32.7 billion related to divestitures. Excluding currency, total revenue would have increased 1.6% to $568.2 billion.
Walmart U.S. comp sales increased 6.4% and 15.0% on a two-year stack.
Walmart U.S. eCommerce sales grew 11.0% and 90% on a two-year stack.
Robust growth in marketplace and fulfillment services in the U.S., Mexico and India. Added approximately 20,000 new sellers to the U.S. marketplace.
Global advertising business reached $2.1 billion as the company's flywheel accelerates. In the U.S., active advertisers using Walmart Connect increased 136%.
Sam's Club comp sales increased 9.8% and 21.6% on a two-year stack. Membership income increased 11.3%.
Walmart International net sales decreased 16.8%, negatively affected by approximately $32.6 billion related to divestitures.
The company generated $24.2 billion in operating cash flow and returned $15.9 billion to shareholders through dividends and share repurchases.
GAAP EPS of $4.87; Adjusted EPS of $6.46.
Repurchased $9.8 billion in shares for the fiscal year, representing around 50% of the $20 billion authorization announced last year.

The company will hold a live conference call with the Investment Community at 7 a.m. CST on Thursday, Feb. 17, 2022, to discuss the company's fourth quarter earnings results for fiscal year 2022. The event will be webcast live and accessible by logging onto https://corporate.walmart.com/newsroom/financial-events and selecting the Fourth Quarter Earnings Release event.

About Walmart

Walmart 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, approximately 230 million customers and members visit approximately 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs 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 https://corporate.walmart.com, on Facebook at https://facebook.com/walmart and on Twitter at https://twitter.com/walmart.

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Walmart Inc. net sales exceed $150 billion in Q4