Slide 1: Q1 2024 Financial Results Conference Call Slides
Q1 2024 Financial Results Conference Call Slides
Slide 2: Forward-looking statements
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 $260,000 Net Sales (MM) Up 13% Y/Y; Up 13% F/X Adjusted (1) $25,037 18% $143,313 $127,358 $31,935 $86,341 $130,000 22% 60% North America International AWS $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 (1) Information throughout this presentation regarding the effect of foreign exchange rat
Slide 4: Net Sales – TTM
Net Sales – TTM (1) MM $900,000 Net Sales - TTM (MM) Up 13% Y/Y; Up 12% F/X Adjusted $94,440 16% $590,740 $524,897 $134,012 $450,000 23% $362,288 61% North America International AWS $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 (1) Trailing twelve-month period. 4
Slide 5: Operating Income
Operating Income MM $20,000 Up 221% Y/Y; Up 219% F/X Adjusted $15,307 $10,000 $4,774 $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 5
Slide 6: Operating Income – TTM
Operating Income – TTM MM $60,000 Up 255% Y/Y; Up 252% F/X Adjusted $47,385 $30,000 $13,353 $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 6
Slide 7: Net Income
Net Income (1) MM $16,000 Up 229% Y/Y $10,431 $8,000 $3,172 $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 (1) Q1 2024 net income includes a pre-tax valuation loss of $2.0 billion included in non-operating expense from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuati
Slide 8: Net Income – TTM
Net Income – TTM (1) MM $50,000 Up 778% Y/Y $37,684 $25,000 $4,294 $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 (1) TTM Q1 2024 net income includes a pre-tax valuation loss of $0.7 billion included in non-operating expense from the common stock investment in Rivian Automotive, Inc., compared to a pre-
Slide 9: Segment Results – North America
Segment Results – North America MM Net Sales MM Operating Income $160,000 $10,000 Up 455% [Down 455%]Y/Y; Y/Y; Up 12% Y/Y Up 454% [Down F/X 454%] Adjusted F/X Adjusted $86,341 $76,881 $4,983 $80,000 $5,000 $898 $0 $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 TTM
Slide 10: Segment Results – International
Segment Results – International MM Net Sales MM Operating Income (Loss) $60,000 $2,000 Up 10% Y/Y; Up 11% F/X Adjusted $903 $31,935 $29,123 $30,000 $0 $(1,247) $0 $-2,000 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 TTM Net Sales $134.0B; TTM Operating Loss $0.5B 1
Slide 11: Segment Results – AWS
Segment Results – AWS MM Net Sales MM Operating Income $40,000 $15,000 Up 84% Y/Y; Up 17% Y/Y Up 83% F/X Adjusted $25,037 $9,421 $21,354 $20,000 $7,500 $5,123 $0 $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 TTM Net Sales $94.4B; TTM Operating Income $28.9B 11
Slide 12: Free Cash Flow – TTM
Free Cash Flow – TTM (1) (2) MM $60,000 $50,149 Up 101% Y/Y $30,000 $0 $(3,319) $-30,000 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 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 i
Slide 13: Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations – TTM
Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations – TTM (1) (2) MM $60,000 $46,071 $30,000 $0 $(10,089) $-30,000 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow less principal repayments of finance leases and fin
Slide 14: Free Cash Flow Less Equipment Finance Leases and Other Repayments – TTM
Free Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations – TTM (1) (2) MM $60,000 $48,778 Down 50% Y/Y(3) $30,000 $0 $(4,455) $-30,000 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Long-Term Goal – Optimize Free Cash Flows (1) Free cash fl
Slide 15: Shares
Shares MM 16,000 10,625 10,788 367 385 8,000 10,258 10,403 0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 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 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Operating Cash Flow $54,330 $61,841 $71,654 $84,946 $99,147 Purchases of property and equipment, net of proceeds from (57,649) (53,963) (50,220) (48,133) (48,998) sales and incentives Free Cash Flow ($3,319) $7,878 $21,43
Slide 18: Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations Reconciliation – TTM
Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations Reconciliation – TTM MM Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Operating Cash Flow $54,330 $61,841 $71,654 $84,946 $99,147 Purchases of property and equipment, net of proceeds from (57,649) (53,963) (50,220) (48,13
Slide 19: Free Cash Flow Less Equipment Finance Leases and Other Repayments Reconciliation – TTM
Free Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations Reconciliation – TTM MM Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Operating Cash Flow $54,330 $61,841 $71,654 $84,946 $99,147 Purchases of property and equipment, net of proceeds