Slide 1: Q2 2023 Financial Results Conference Call Slides
Q2 2023 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 $250,000 Net Sales (MM) Up 11% Y/Y; Up 11% F/X Adjusted (1) $22,140 17% $134,383 $29,697 $125,000 $121,234 $82,546 22% 61% North America International AWS $0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 (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 11% Y/Y; Up 13% F/X Adjusted $85,410 16% $538,046 $485,902 $121,003 $450,000 22% $331,633 62% North America International AWS $0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 (1) Trailing twelve-month period. 4
Slide 5: Operating Income
Operating Income MM $12,000 Up 132% Y/Y; Up 128% F/X Adjusted $7,681 $6,000 $3,317 $0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 5
Slide 6: Operating Income – TTM
Operating Income – TTM MM $30,000 Up 16% Y/Y; Up 10% F/X Adjusted $17,717 $15,298 $15,000 $0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 6
Slide 7: Net Income (Loss)
Net Income (Loss) (1) MM $10,000 [Up N/A] Y/Y $6,750 $5,000 $0 $(2,028) $-5,000 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 (1) Q2 2023 net income includes a pre-tax valuation gain of $0.2 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., com
Slide 8: Net Income (Loss) – TTM
Net Income (Loss) – TTM (1) MM $30,000 Up 13% Y/Y $15,000 $13,072 $11,607 $0 $-15,000 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 (1) TTM Q2 2023 net income includes a pre-tax valuation loss of $1.5 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive,
Slide 9: Segment Results – North America
Segment Results – North America MM Net Sales MM Operating Income (Loss) $160,000 $6,000 [Down N/A] Y/Y; Up 11% Y/Y [Down N/A] F/X Adjusted $3,211 $3,000 $82,546 $80,000 $74,430 $0 $(627) $0 $-3,000 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 TTM Net Sales $331.6B;
Slide 10: Segment Results – International
Segment Results – International MM Net Sales MM Operating Loss $70,000 $4,000 Down 49% Y/Y; Up 10% Y/Y Down 48% F/X Adjusted $35,000 $0 $29,697 $27,065 $(895) $(1,771) $0 $-4,000 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 TTM Net Sales $121.0B; TTM Operating Loss
Slide 11: Segment Results – AWS
Segment Results – AWS MM Net Sales MM Operating Income $40,000 $10,000 Down 6% Y/Y; Up 12% Y/Y Down 8% F/X Adjusted $22,140 $5,715 $5,365 $19,739 $20,000 $5,000 $0 $0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 TTM Net Sales $85.4B; TTM Operating Income $21.1B 11
Slide 12: Free Cash Flow – TTM
MM Free Cash Flow – TTM (1) (2) $30,000 Up 101% Y/Y $7,878 $0 $(23,487) $-30,000 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 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 incentive
Slide 13: Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations – TTM
Free Cash Flow Less Principal Repayments of Finance Leases MM and Financing Obligations – TTM (1) (2) $25,000 $1,929 $0 $-25,000 $(33,481) $-50,000 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 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 Principal Repayments – TTM
Free Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations – TTM (1) (2) MM $40,000 Down 50% Y/Y(3) $6,734 $0 $(26,064) $-40,000 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow less
Slide 15: Shares
Shares MM 16,000 10,551 10,794 368 481 8,000 10,183 10,313 0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Common Shares Outstanding Stock-Based Awards Outstanding Long-Term Goal – Efficiently Managing Dilution 15
Slide 16: Appendix
amazon A Appendix
Slide 17: Free Cash Flow Reconciliation – TTM
Free Cash Flow Reconciliation – TTM MM Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Operating Cash Flow $35,574 $39,665 $46,752 $54,330 $61,841 Purchases of property and equipment, net of proceeds from sales and incentives (59,061) (59,351) (58,321) (57,649) (53,963) Free Cash Flow ($23,487) ($19,686) ($
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 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Operating Cash Flow $35,574 $39,665 $46,752 $54,330 $61,841 Purchases of property and equipment, net of proceeds from (59,061) (59,351) (58,321) (57,64
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 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Operating Cash Flow $35,574 $39,665 $46,752 $54,330 $61,841 Purchases of property and equipment, net of proceeds