Slide 1: Q4 2023 Financial Results Conference Call Slides
Q4 2023 Financial Results Conference Call Slides
Slide 2: Forward-looking statements disclaimer
This presentation may contain forward-looking statements which are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, among others, fluctuations in foreign exchange rates, changes in global economic conditions and customer demand
Slide 3: Net Sales
Net Sales MM $300,000 Net Sales (MM) Up 14% Y/Y; Up 13% F/X Adjusted (1) $24,204 14% $169,961 $40,243 $149,204 24% $150,000 $105,514 62% North America International AWS $0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 (1) Information throughout this presentation regarding the effect of foreign exchange ra
Slide 4: Net Sales – TTM
Net Sales – TTM (1) MM $900,000 Net Sales - TTM (MM) Up 12% Y/Y $90,757 16% $574,785 $513,983 $131,200 $450,000 23% $352,828 61% North America International AWS $0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 (1) Trailing twelve-month period. 4
Slide 5: Operating Income
Operating Income MM $20,000 Up 383% Y/Y; Up 379% F/X Adjusted $13,209 $10,000 $2,737 $0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 5
Slide 6: Operating Income – TTM
Operating Income – TTM MM $60,000 Up 201% Y/Y; Up 197% F/X Adjusted $36,852 $30,000 $12,248 $0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 6
Slide 7: Net Income
Net Income (1) MM $16,000 $10,624 $8,000 $278 $0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 (1) Q4 2023 net income includes a pre-tax valuation loss of $0.1 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation lo
Slide 8: Net Income (Loss) – TTM
Net Income (Loss) – TTM (1) MM $40,000 $30,425 $20,000 $0 $(2,722) Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 (1) TTM Q4 2023 net income includes a pre-tax valuation gain of $0.8 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to
Slide 9: Segment Results – North America
Segment Results – North America MM Net Sales MM Operating Income (Loss) $180,000 $10,000 [Down N/A] Y/Y; Up 13% Y/Y [Down N/A] F/X Adjusted $6,461 $105,514 $5,000 $93,363 $90,000 $0 $(240) $0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 TTM Net Sales $352.8B; TTM O
Slide 10: Segment Results – International
Segment Results – International MM Net Sales MM Operating Loss $70,000 $4,000 Up 17% Y/Y; Down 81% Y/Y; Up 13% F/X Adjusted Down 74% F/X Adjusted $40,243 $34,463 $35,000 $0 $(419) $(2,228) $0 $-4,000 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 TTM Net Sales $131.2
Slide 11: Segment Results – AWS
Segment Results – AWS MM Net Sales MM Operating Income $40,000 $12,000 Up 38% Y/Y; Up 13% Y/Y Up 39% F/X Adjusted $24,204 $7,167 $21,378 $20,000 $6,000 $5,205 $0 $0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 TTM Net Sales $90.8B; TTM Operating Income $24.6B 11
Slide 12: Free Cash Flow – TTM
Free Cash Flow – TTM (1) (2) MM $60,000 $36,813 Up 101% Y/Y $30,000 $0 $(11,569) $-30,000 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales and
Slide 13: Long-Term Goal – Optimize Free Cash Flows
Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations – TTM (1) (2) MM $60,000 $32,158 $30,000 $0 $(19,758) $-30,000 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow less principal repayments of finance leases and fin
Slide 14: Long-Term Goal – Optimize Free Cash Flows
Free Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations – TTM (1) (2) MM $60,000 Down 50% Y/Y(3) $35,549 $30,000 $0 $(12,786) $-30,000 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cash f
Slide 15: Shares
Shares MM 16,000 10,627 10,788 384 406 8,000 10,242 10,383 0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Common Shares Outstanding Stock-Based Awards Outstanding Long-Term Goal – Efficiently Managing Dilution 15
Slide 16: Appendix
amazon Appendix
Slide 17: Free Cash Flow Reconciliation – TTM
Free Cash Flow Reconciliation – TTM MM Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Operating Cash Flow $46,752 $54,330 $61,841 $71,654 $84,946 Purchases of property and equipment, net of proceeds from (58,321) (57,649) (53,963) (50,220) (48,133) sales and incentives Free Cash Flow ($11,569) ($3,319) $7,
Slide 18: Free Cash Flow Less Principal Repayments of Finance Leases Reconciliation – TTM
Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations Reconciliation – TTM MM Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Operating Cash Flow $46,752 $54,330 $61,841 $71,654 $84,946 Purchases of property and equipment, net of proceeds from (58,321) (57,649) (53,963) (50,22
Slide 19: Free Cash Flow Less Equipment Finance Leases Reconciliation – TTM
Free Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations Reconciliation – TTM MM Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Operating Cash Flow $46,752 $54,330 $61,841 $71,654 $84,946 Purchases of property and equipment, net of proceeds