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Oct 31, 2022
Walmart Q3 2023 Earnings Report
Walmart's Q3 2023 performance was marked by strong revenue growth and strategic investments.
Key Takeaways
Walmart reported strong Q3 results, with total revenue up 8.7% to $152.8 billion. Walmart U.S. comp sales grew 8.2%, and adjusted EPS was $1.50. The company also raised its full-year outlook and announced a new $20 billion share repurchase authorization.
Total revenue increased by 8.7% to $152.8 billion, or 9.8% in constant currency.
Walmart U.S. comp sales grew by 8.2%, driven by unit growth in food and a 16% increase in eCommerce sales.
Sam's Club comp sales increased by 10.0%, with membership income up 8.0% as member count reached an all-time high.
Adjusted EPS was $1.50, excluding the effects of net losses on equity and other investments and charges related to opioid legal settlements.
Walmart
Walmart
Walmart Revenue by Segment
Walmart Revenue by Geographic Location
Revenue by Segment
Walmart U.S. Revenue
CapyFin.comWalmart International Revenue
CapyFin.comSam's Club U.S. Revenue
CapyFin.comMembership & Other Income Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Walmart provided guidance for the fourth quarter and fiscal year 2023, anticipating continued net sales growth and adjusted earnings per share decline.
Positive Outlook
- Consolidated net sales growth of about 3.0% for Q4.
- Walmart U.S. comp sales, excluding fuel, of about 3.0% for Q4.
- Consolidated net sales growth of about 5.5% for fiscal year 2023.
- Walmart U.S. comp sales growth, excluding fuel, of about 5.5% for fiscal year 2023.
- Improved outlook for consolidated adjusted operating income decline for fiscal year 2023.
Challenges Ahead
- Consolidated net sales growth negatively affected by approximately $1.3 billion from currency fluctuations in Q4.
- Consolidated operating income increase 1.0% to decline 1.0% for Q4.
- Adjusted earnings per share decline of 3.0% to 5.0% for Q4.
- Headwind of about $4.1 billion from currency exchange rates for fiscal year 2023.
- Consolidated adjusted operating income decline of 6.5% to 7.5% for fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income