Slide 1: Q3 2023 Financial Results Conference Call Slides
Q3 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 13% Y/Y; $23,059 Up 11% F/X Adjusted (1) 16% $143,083 $32,137 $127,101 23% $125,000 $87,887 61% North America International AWS $0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 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 10% Y/Y; $87,931 Up 12% F/X Adjusted 16% $554,028 $502,191 $125,420 $340,677 $450,000 23% 61% North America International AWS $0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 (1) Trailing twelve-month period. 4
Slide 5: Operating Income
Operating Income MM $15,000 Up 343% Y/Y; Up 338% F/X Adjusted $11,188 $7,500 $2,525 $0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 5
Slide 6: Operating Income – TTM
Operating Income – TTM MM $30,000 $26,380 Up 103% Y/Y; Up 99% F/X Adjusted $15,000 $12,971 $0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 6
Slide 7: Net Income
Net Income (1) MM $15,000 [Up 244%] Y/Y Up 244% Y/Y $9,879 $7,500 $2,872 $0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 (1) Q3 2023 net income includes a pre-tax valuation gain of $1.2 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compare
Slide 8: Net Income (Loss) – TTM
Net Income (Loss) – TTM (1) MM $30,000 Up 77% Y/Y $20,079 $15,000 $11,323 $0 $-15,000 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 (1) TTM Q3 2023 net income includes a pre-tax valuation loss of $1.4 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 $4,307 [Down N/A] F/X Adjusted $3,000 $87,887 $78,843 $80,000 $0 $(412) $0 $-3,000 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 TTM Net Sales $340.7B;
Slide 10: Segment Results – International
Segment Results – International MM Net Sales MM Operating Loss $70,000 $4,000 Up 16% Y/Y; Down 96% Y/Y; Up 11% F/X Adjusted Down 87% F/X Adjusted $35,000 $32,137 $0 $27,720 $(95) $(2,466) $0 $-4,000 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 TTM Net Sales $125.4B
Slide 11: Segment Results – AWS
Segment Results – AWS MM Net Sales MM Operating Income $40,000 $10,000 Up 29% Y/Y; Up 12% Y/Y Up 30% F/X Adjusted $6,976 $23,059 $5,403 $20,538 $20,000 $5,000 $0 $0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 TTM Net Sales $87.9B; TTM Operating Income $22.7B 11
Slide 12: Free Cash Flow – TTM
MM Free Cash Flow – TTM (1) (2) $30,000 $21,434 Up 101% Y/Y $0 $(19,686) $-30,000 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 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 incentiv
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 $15,929 $0 $-25,000 $(28,480) $-50,000 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow less principal repayments of finance leases and fi
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) $20,241 $0 $(21,493) $-40,000 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow less
Slide 15: Shares
Shares MM 16,000 10,597 10,792 399 462 8,000 10,198 10,330 0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 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 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Operating Cash Flow $39,665 $46,752 $54,330 $61,841 $71,654 Purchases of property and equipment, net of proceeds from sales and incentives (59,351) (58,321) (57,649) (53,963) (50,220) Free Cash Flow ($19,686) ($11,569) ($
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 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Operating Cash Flow $39,665 $46,752 $54,330 $61,841 $71,654 Purchases of property and equipment, net of proceeds from (59,351) (58,321) (57,649) (53,96
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 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Operating Cash Flow $39,665 $46,752 $54,330 $61,841 $71,654 Purchases of property and equipment, net of proceeds