Walmart Q1 2022 Earnings Report
Key Takeaways
Walmart's Q1 2022 results showed strong growth, with total revenue increasing by 2.7% to $138.3 billion. Walmart U.S. comp sales grew by 6.0%, and eCommerce sales increased by 37%. The company raised its outlook for Q2 and the full year.
Walmart U.S. comp sales grew 6.0%; 16.0% on a two-year stack.
Q1 FY22 GAAP EPS was $0.97; Adjusted EPS of $1.69.
Walmart U.S. eCommerce sales increased 37%.
The company raised its outlook for Q2 and full-year.
Walmart
Walmart
Walmart Revenue by Segment
Walmart Revenue by Geographic Location
Forward Guidance
The company updated its expectations for fiscal year 2022 and provided guidance on a non-GAAP basis. The updated guidance assumes COVID-19 conditions continue to improve as well as no significant additional government stimulus packages for the remainder of the year.
Positive Outlook
- Consolidated net sales growth up low-to-mid single-digits, excluding divestitures.
- Walmart U.S. comp sales up low single-digits, ex. fuel.
- Sam’s Club comp sales up low single-digits, ex. fuel and tobacco.
- Increase high single-digits in consolidated operating income, excluding divestitures in constant currency.
- Increase low double-digits in EPS, excluding divestitures.
Challenges Ahead
- Decline low single-digits in consolidated net sales in constant currency, including divestitures.
- Decline 20-25% in Walmart International net sales in constant currency due to divestitures.
- Maintain rate, or slightly deleverage consolidated expense leverage.
- Decline mid-to-high single-digits in consolidated operating income.
- Decline slightly in EPS.
Revenue & Expenses
Visualization of income flow from segment revenue to net income