Walmart Inc. · NASDAQ:WMT
Walmart — Wal-Mart Stores — Q1 FY2015 Earnings Presentation
12 slides from Walmart's earnings presentation, May 15, 2014
Slide 1: First quarter fiscal year 2015
First quarter fiscal year 2015 Thursday, May 15, 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 May 15, 2014 in connection with our press release discussing our results of operatio
Slide 2: Consolidated results
Wal-Mart Stores, Inc. Consolidated results (Amounts in millions, except share data) Q1 $ r1 % r1 Total revenue $114,960 $890 0.8% Net sales $114,167 $854 0.8% Net sales, constant currency2 $115,743 $2,430 2.1% Membership & other income $793 $36 4.8% Operating income $6,193 -$245 -3.8% Interest expen
Slide 3: Consolidated results
Wal-Mart Stores, Inc. Consolidated results Q1 bps r1 Gross profit rate 24.1% -6 bps Operating expenses as a 19.3% 22 bps percentage of net sales Effective tax rate 34.0% 63 bps Debt to total capitalization2 43.2% -160 bps Return on investment3,4 16.7% -110 bps 1 Basis points change versus prior year
Slide 4: Returns
Wal-Mart Stores, Inc. Returns (Amounts in millions) Q1 $ r1 Operating cash flow $5,939 $1,045 Capital expenditures $2,157 $811 Free cash flow2 $3,782 $1,856 (Amounts in millions) Q1 % r1 Dividends $1,547 -0.1% Share repurchases3 $626 -72.1% Total $2,173 -42.7% 1 Change versus prior year comparable p
Slide 5: Walmart U.S. segment operating results
Walmart U.S. Segment operating results (Amounts in millions) Q1 r1 Net sales $67,852 2.0% Comparable store sales -0.1% 130 bps • Comp traffic -1.4% 40 bps • Comp ticket 1.3% 90 bps E-commerce impact2 ~0.3% NP Neighborhood Market ~5.0% NP Gross profit rate Decrease -17 bps Operating income $4,975 -4.
Slide 6: Walmart U.S. category comps
Walmart U.S. Category comps Category Comp Grocery1 Relatively flat GM2 - Low single-digit Health & wellness + Low single-digit Apparel + Low single-digit Home - Low single-digit 1 Includes food and consumables 2 Includes entertainment, toys, hardlines and seasonal 6
Slide 7: Walmart International segment operating results
Walmart International Segment operating results Constant Reported 1 1 (Amounts in millions) currency Q1 r2 Q1 r2 Net sales $32,424 -1.4% $34,000 3.4% Gross profit rate Increase 8 bps NP NP Operating income $1,202 3.4% $1,225 5.3% 1 See press release located at www.stock.walmart.com regarding reconci
Slide 8: Walmart International Q1 sales and GP – five largest markets
Walmart International Q1 sales and GP – five largest markets1 Comp3 Net Gross Country2 3 profit Sales Traffic Ticket sales rate3 United Kingdom -1.5% 1.0% -2.5% -0.5% Increase Walmex4 -2.6% -0.8% -1.8% 1.5% Increase Canada -1.4% -2.8% 1.4% 1.2% Decrease Brazil 4.4% -2.8% 7.2% 4.3% Decrease China -2.
Slide 9: Sam's Club segment operating results
Sam’s Club Segment operating results Without fuel1 With fuel (Amounts in millions) Q1 r2 Q1 r2 Net sales $12,215 0.5% $13,891 0.1% Comparable club sales -0.5% -70 bps -0.8% -60 bps • Comp traffic -0.2% -150 bps NP NP • Comp ticket -0.3% 80 bps NP NP E-commerce impact3 ~0.2% NP NP NP Gross profit rat
Slide 10: Sam's Club category comps without fuel
Sam’s Club Category comps without fuel 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-digit Health and wellness + Low single-digit
Slide 11: Guidance
Guidance Total Walmart Sam's company U.S. comps Club comps • Q2 EPS: • 13-week period3: • 13-week period3: • $1.15 - $1.25 • Relatively flat • Flat • Full-year ETR1,2: • 32% - 34% 1 ETR = Effective tax rate 2 For Q2, we expect our effective tax rate to be at the high end of the full-year ETR guidanc
Slide 12: Additional resources at stock.walmart.com
Additional resources at stock.walmart.com • Reconciliations for ROI, free cash flow, constant currency and Sam's Club comparable measures without fuel can be found in our first quarter fiscal year 2015 press release. • Unit counts & square footage • Comparable store sales • Terminology 12