Walmart Inc. · NASDAQ:WMT
Walmart — Q3 FY2015 Earnings Presentation
13 slides from Walmart's earnings presentation, Nov 13, 2014
Slide 1: Third quarter fiscal year 2015
Third quarter fiscal year 2015 Thursday, November 13, 2014 The information presented in these slides forms a part of and is intended for use solely in connection with the management earnings call that became available on November 13, 2014 in connection with our press release discussing Wal-Mart Stor
Slide 2: Consolidated results
Wal-Mart Stores, Inc. Consolidated results (Amounts in millions, except share data) Q3 $ r1 % r1 YTD $ r1 % r1 Total revenue $119,001 $3,313 2.9% $354,086 $7,498 2.2% Net sales $118,076 $3,200 2.8% $351,579 $7,289 2.1% Net sales, constant currency2 $118,472 $3,596 3.1% $354,247 $9,957 2.9% Membershi
Slide 3: Consolidated results
Wal-Mart Stores, Inc. Consolidated results (Amounts in millions) Q3 bps r1 YTD bps r1 Gross profit rate 24.4% -12 bps 24.4% -10 bps Operating expenses as a 19.9% 14 bps 19.6% 15 bps percentage of net sales Effective tax rate 31.8% -67 bps 33.3% 52 bps Debt to total capitalization2 NP NP 41.3% -440 b
Slide 4: Working capital (consolidated)
Wal-Mart Stores, Inc. Working capital (consolidated) (Amounts in millions) Q3 $ r1 % r1 Receivables,net $6,091 -$115 -1.9% Inventories $51,501 $1,828 3.7% Accounts payable $39,656 $435 1.1% 1 Change versus prior year comparable period 4
Slide 5: Returns
Wal-Mart Stores, Inc. Returns (Amounts in millions) YTD $ r1 Operating cash flow $15,470 $2,150 Capital expenditures $8,243 -$1,263 Free cash flow2 $7,227 $3,413 (Amounts in millions) Q3 % r1 YTD % r1 Dividends $1,545 0.8% $4,639 0.3% Share repurchases3 $82 -95.2% $1,015 -82.5% Total $1,627 -49.8% $
Slide 6: Walmart U.S. segment operating results
Walmart U.S. Segment operating results (Amounts in millions) Q3 r1 YTD r1 Net sales $70,025 3.4% $208,478 2.7% Comparable store sales2 0.5% 80 bps 0.1% 80 bps • Comp traffic -0.7% -30 bps NP NP • Comp ticket 1.2% 110 bps NP NP E-commerce impact3 ~0.2% NP NP NP Neighborhood Market ~5.5% NP NP NP Gros
Slide 7: Walmart U.S. merchandise category comps
Walmart U.S. Merchandise category comps (13-weeks ended Oct. 31, 2014) Category Comp Grocery1 relatively flat General merchandise2 - low single-digit Health & wellness + mid single-digit Apparel + low single-digit Home + low single-digit 1 Includes food and consumables 2 Includes entertainment, toys
Slide 8: Walmart International segment operating results
Walmart International Segment operating results Constant Constant Reported Reported (Amounts in millions) currency1 1 currency1 Q3 r2 Q3 r2 YTD r2 YTD r2 Net sales $33,659 1.7% $34,055 2.9% $99,955 1.1% $102,623 3.8% Gross profit rate Increase 1 bps NP NP Decrease -3 bps NP NP Operating income $1,43
Slide 9: Walmart International Q3 sales and GP – five largest markets
Walmart International Q3 sales and GP – five largest markets1 2 Comp3 Net Gross Country 3 profit sales Sales Traffic Ticket rate3 United Kingdom4 -1.8% -0.2% -1.6% -1.2% Increase Walmex5 1.1% -0.7% 1.8% 4.2% Decrease Canada 0.6% -1.4% 2.0% 3.3% Increase Brazil 0.8% -2.6% 3.4% -0.7% Decrease China -2
Slide 10: Sam's Club segment operating results
Sam’s Club Segment operating results Without fuel1 With fuel Without fuel1 With fuel (Amounts in millions) Q3 r2 Q3 r2 YTD r2 YTD r2 Net sales $12,737 2.3% $14,392 2.3% $37,986 1.5% $43,146 1.6% 3 Comparable club sales 0.4% -70 bps 0.3% 20 bps 0.0% -100 bps 0.0% -50 bps • Comp traffic 0.2% -220 bps
Slide 11: Sam's Club merchandise category comps
Sam’s Club Merchandise category comps, without fuel (13-weeks ended Oct. 31, 2014) Category Comp Fresh / Freezer / Cooler + low single-digit Grocery and beverage + low single-digit Consumables - low single-digit Home and apparel + low single-digit Technology, office and entertainment - high single-d
Slide 12: Guidance
Guidance Total Walmart Sam's company U.S. comps Club comps • Q4 EPS: • 13-week period2: • 13-week period2: • $1.46 - $1.56 • Flat - 1.0% • Flat - 2.0% • Full-year EPS: • $4.92 - $5.02 • Full-year ETR1,: • 32% - 34% 1 ETR = Effective tax rate 2 13-week period from November 1, 2014 through January 30,
Slide 13: Additional resources at stock.walmart.com
Additional resources at stock.walmart.com • Reconciliations for our non-GAAP financial measures (ROI, free cash flow, constant currency and Sam's Club comparable measures without fuel) can be found in our Q3 FY 2015 press release. • Unit counts & square footage • Comparable store sales • Terminology