Slide 1: Q1 2023 Financial Results Conference Call Slides
Q1 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 9% Y/Y; Up 11% F/X Adjusted (1) $21,354 17% $127,358 $29,123 $125,000 $116,444 $76,881 23% 60% North America International AWS $0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 (1) Information throughout this presentation regarding the effect of foreign exchange rate
Slide 4: Net Sales – TTM
Net Sales – TTM (1) MM $900,000 Net Sales - TTM (MM) Up 10% Y/Y; Up 13% F/X Adjusted $83,009 16% $524,897 $477,748 $118,371 $450,000 22% $323,517 62% North America International AWS $0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 (1) Trailing twelve-month period. 4
Slide 5: Operating Income
Operating Income MM $8,000 Up 30% Y/Y; Up 26% F/X Adjusted $4,774 $4,000 $3,669 $0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 5
Slide 6: Operating Income – TTM
Operating Income – TTM MM $30,000 Down 32% Y/Y; Down 37% F/X Adjusted $19,683 $15,000 $13,353 $0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 6
Slide 7: Net Income (Loss)
Net Income (Loss) (1) MM $10,000 [Up N/A] Y/Y $3,172 $0 $(3,844) $-10,000 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 (1) Q1 2023 net income includes a pre-tax valuation loss of $0.5 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared
Slide 8: Net Income (Loss) – TTM
Net Income (Loss) – TTM (1) MM $30,000 Down 80% Y/Y $21,413 $15,000 $4,294 $0 $-15,000 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 (1) TTM Q1 2023 net income includes a pre-tax valuation loss of $5.6 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 $4,000 [Down N/A] Y/Y; Up 11% Y/Y [Down N/A] F/X Adjusted $898 $80,000 $76,881 $0 $69,244 $(1,568) $0 $-4,000 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 TTM Net Sales $323.5B; TTM Op
Slide 10: Segment Results – International
Segment Results – International MM Net Sales MM Operating Loss $70,000 $4,000 Up 1% Y/Y; Down 3% Y/Y; Up 9% F/X Adjusted Down 16% F/X Adjusted $35,000 $0 $28,759 $29,123 $(1,281) $(1,247) $0 $-4,000 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 TTM Net Sales $118.4B
Slide 11: Segment Results – AWS
Segment Results – AWS MM Net Sales MM Operating Income $40,000 $12,000 Down 21% Y/Y; Up 16% Y/Y Down 26% F/X Adjusted $21,354 $6,518 $20,000 $18,441 $6,000 $5,123 $0 $0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 TTM Net Sales $83.0B; TTM Operating Income $21.4B 1
Slide 12: Free Cash Flow – TTM
MM Free Cash Flow – TTM (1) $30,000 Up 82% Y/Y (2) Up 101% Y/Y $0 $(3,319) $(18,627) $-30,000 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 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
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) $40,000 Up 66% Y/Y (2) $0 $(10,089) $(29,335) $-40,000 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow less principal repayments of finance leases an
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) MM $30,000 Down Up 80% Y/Y50% (2) Y/Y(3) $0 $(4,455) $(22,279) $-30,000 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cas
Slide 15: Shares
Shares (1) MM 16,000 10,454 10,625 283 367 8,000 10,171 10,258 0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Common Shares Outstanding Stock-Based Awards Outstanding Long-Term Goal – Efficiently Managing Dilution (1) All share information for comparable prior periods throughout this presentation have be
Slide 16: Appendix
amazon A Appendix
Slide 17: Free Cash Flow Reconciliation – TTM
Free Cash Flow Reconciliation – TTM MM Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Operating Cash Flow $39,324 $35,574 $39,665 $46,752 $54,330 Purchases of property and equipment, net of proceeds from sales and incentives (57,951) (59,061) (59,351) (58,321) (57,649) Free Cash Flow ($18,627) ($23,487) ($
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 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Operating Cash Flow $39,324 $35,574 $39,665 $46,752 $54,330 Purchases of property and equipment, net of proceeds from (57,951) (59,061) (59,351) (58,32
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 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Operating Cash Flow $39,324 $35,574 $39,665 $46,752 $54,330 Purchases of property and equipment, net of proceeds