The company now expects full-year GAAP EPS of $3.84 to $3.92, Adjusted full-year EPS(2) of $4.38 to $4.46


  • The company's third-quarter GAAP EPS was adjusted2 for three items. A charge of $0.29 for loss on extinguishment of debt in connection with the company's recently completed debt tender offer, a charge of $0.09 based on discussions with government agencies regarding the possible resolution of the FCPA matter, and a charge of $0.04 based on the decision to exit certain properties in one of the company's international markets.
  • Total revenue was $123.2 billion, an increase of $5.0 billion, or 4.2%. Excluding currency2, total revenue was $122.7 billion, an increase of $4.5 billion, or 3.8%.
  • Walmart U.S. comp sales1 increased 2.7%, and comp traffic increased 1.5%.
  • eCommerce growth at Walmart U.S. remained strong, led by growth through Walmart.com. Net sales and GMV3 increased 50% and 54%, respectively.
  • Net sales at Walmart International were $29.5 billion, an increase of 4.1%. Excluding currency2, net sales were $29.1 billion, an increase of 2.5%. Ten of eleven markets posted positive comp sales, including our four largest markets.

View earnings presentation


Key Results

(Amounts in millions, except as noted)

Walmart

Q3 FY18

Q3 FY17

$ Change

% Change

Revenue

$123,179

$118,179

$5,000

4.2%

 

Revenue (constant currency)2

$122,721

$118,179

$4,542

3.8%

 

Operating income

$4,764

$5,119

-$355

-6.9%

 

Operating income (constant currency)2

$4,704

$5,119

-$415

-8.1%

 


Free Cash Flow

YTD FY18

$ Change

Returns to Shareholders

Q3 FY18

% Change

Operating cash flow

$17,060

-$2,721

Dividends

$1,526

-1.5%

Capital expenditures

$6,908

-$551

Share repurchases4

$2,209

57.6%

Free cash flow2

$10,152

-$2,170

Total

$3,735

26.6%


1 Represents Walmart U.S. comparable sales excluding fuel. Including fuel, Walmart U.S. comparable sales grew 2.8%. See additional information at the end of this release regarding non-GAAP financial measures.
2 See additional information at the end of this release regarding non-GAAP financial measures.
3 GMV represents the total U.S. dollar volume of merchandise sold or services rendered for all transactions, including marketplace transactions, that are generally initiated through our eCommerce platforms or include our owned inventory sold on other third party platforms. For additional information, visit stock.walmart.com.
4 The company repurchased approximately 27 million shares in Q3 FY18 under the $20 billion authorization approved in October 2015. Effective November 20, 2017, share repurchases will be made under the company’s $20 billion share repurchase authorization approved in October 2017.

Guidance

  • Fiscal year 2018 GAAP EPS: $3.84 to $3.92
  • Fiscal year 2018 Adjusted EPS1: $4.38 to $4.46

Comp sales for the 13-week period ending Jan. 26, 2018:

  • Walmart U.S. (ex. fuel)1+1.5% to +2.0%
  • Sam's Club (ex. fuel)1: +1.5% to +2.0%

Segment Results

(Amount in millions, except as noted)

Walmart U.S. Q3 FY18 Q3 FY17 $ Change % Change
Net sales $77,724 $74,550 $3,174 4.30%
Comp sales (ex. fuel)1,2 2.70% 1.20% 150 bps N/A
Traffic 1.50% 0.70% 80 bps N/A
Ticket 1.20% 0.50% 70 bps N/A
eCommerce ~80 bps ~50 bps ~30 bps N/A
Operating income $4,030 $3,999 $31 0.80%


Walmart International Q3 FY18 Q3 FY17 $ Change % Change
Net sales $29,548 $28,390 $1,158 4.10%
Net sales (constant currency)1 $29,094 $28,390 $704 2.50%
Operating income $1,249 $1,354 ($105) -7.80%
Operating income (constant currency)1 $1,189 $1,354 ($165) -12.20%


Sam's Club Q3 FY18 Q3 FY17 $ Change % Change
Net sales $14,864 $14,236 $628 4.40%
Comp sales (ex. fuel)1,2 2.80% 1.40% 140 bps N/A
Traffic 3.60% -0.50% 410 bps N/A
Ticket -0.80% 1.90% -270 bps N/A
eCommerce ~80 bps ~60 bps ~20 bps N/A
Operating income $447 $396 $51 12.90%


1 See additional information at the end of this release regarding non-GAAP financial measures.
2 13-week period ended Oct. 27, 2017, compared to 13-week period ended Oct. 28, 2016, and excludes fuel.

Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, over 260 million customers and members visit our more than 11,600 stores under 59 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2017 revenue of $485.9 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.

Investor Relations contact
Steve Schmitt (479) 258-7172

Media Relations contact
Randy Hargrove (800) 331-0085

Along with this press release, Walmart makes available a recorded call with executive leaders and a financial presentation to review business results, provide strategic updates, and comment on expectations for the future. We provide that call in both audio form and in a written transcript. Details on accessing the call are as follows:

• 877-523-5612 (U.S. and Canada)
• 201-689-8483 (other countries)
• Passcode: 9256278 (Walmart)

The call is archived at stock.walmart.com