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Jan 31, 2023
Walmart Q4 2023 Earnings Report
Walmart's Q4 2023 earnings showcased strong revenue growth, driven by robust performance in stores and eCommerce, with adjusted EPS exceeding expectations.
Key Takeaways
Walmart's Q4 2023 earnings revealed a 7.3% increase in total revenue, reaching $164.0 billion. Walmart U.S. comp sales grew by 8.3%, with eCommerce surging by 17%. The company reported a GAAP EPS of $2.32 and an adjusted EPS of $1.71. The company provided outlook for Q1 and FY24.
Total revenue increased by 7.3% to $164.0 billion, or 7.9% in constant currency.
Walmart U.S. comp sales grew 8.3%, with eCommerce growth of 17%.
Sam's Club comp sales increased 12.2%, with membership income up 7.1%.
Walmart International net sales increased 2.1% to $27.6 billion.
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 its outlook for Q1 and full fiscal year 2024, expecting continued growth in net sales and operating income.
Positive Outlook
- Consolidated net sales are expected to increase 4.5% to 5.0% in Q1 on a constant currency basis.
- Consolidated operating income is projected to increase 3.5% to 4.0% in Q1 on a constant currency basis.
- Walmart U.S. comp sales are expected to increase 2.0% to 2.5% for the full year, excluding fuel.
- Walmart International net sales are projected to increase about 6.0% for the full year on a constant currency basis.
- Sam's Club U.S. comp sales are expected to increase about 5.0% for the full year, excluding fuel.
Challenges Ahead
- Consolidated operating income in Q1 will be negatively impacted by 235 bps from LIFO.
- Adjusted earnings per share for Q1 include an expected $0.03 impact from LIFO.
- Consolidated operating expenses are expected to increase slightly as a percentage of net sales for the full year on a constant currency basis.
- Interest expense, net, is projected to increase about $750 million for the full year, representing a $0.20 headwind to EPS.
- Noncontrolling interest is expected to have a $0.12 headwind to EPS for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income