Walmart (WMT)

Q2 FY20 Earnings (15/08/2019)

  • Total revenue was $130.4 billion, an increase of $2.3 billion, or 1.8%. Excluding currency, total revenue was $131.7 billion, an increase of $3.7 billion, or 2.9%.
  • Walmart U.S. comp sales increased on a two-year stacked basis by 7.3%, which is the strongest growth in more than 10 years. Segment operating income increased 4%, marking the
    fifth consecutive quarter of growth.
  • Walmart U.S. eCommerce sales growth of 37% includes strong growth in online grocery.
  • Sam’s Club comp sales increased 1.2%, and eCommerce sales grew 35%. Reduced tobacco sales negatively affected comp sales by 300 basis points.
  • Net sales at Walmart International were $29.1 billion, a decrease of 1.1%. Excluding currency, net sales were $30.4 billion, an increase of 3.3%. Strength in Walmex and China were offset by softness in the U.K. and Canada.
  • Operating income declined 2.9%, or 2.4% in constant currency, which was better than planned with strong results in the U.S. businesses. As expected, the inclusion of Flipkart this quarter negatively affected profit results.
  • Adjusted EPS excludes an unrealized loss, net of tax, of $0.01 on the company’s equity investment in JD.com for the second quarter of FY20.
  • FY20 adjusted EPS is now expected to range between a slight decrease and a slight increase compared with FY19 adjusted EPS
  • Walmart U.S. surpassed 1,100 grocery delivery locations and has more than 2,700 pickup locations.
  • The company’s NextDay delivery service from Walmart.com now covers about 75% of the U.S. population.
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Q3 FY20 Earnings

  • Total revenue was $128.0 billion, an increase of $3.1 billion, or 2.5%. Excluding currency
  • Total revenue was $129.0 billion, an increase of $4.1 billion, or 3.3%.
  • Walmart U.S. comp sales increased on a two-year stacked basis by 6.6%. Market share gains in the business were led by food and consumables, including fresh.
  • Walmart U.S. eCommerce sales growth of 41% includes strong growth in online grocery.
  • Walmart U.S. operating income increased 6.1%.
  • Sam’s Club comp sales increased 0.6%, and eCommerce sales grew 32%. Reduced tobacco sales negatively affected comp sales by 350 basis points.
  • Net sales at Walmart International were $29.2 billion, an increase of 1.3%. Excluding currency, net sales were $30.2 billion, an increase of 4.8%. The inclusion of Flipkart and strength in Walmex and China were partially offset by softness in the U.K.
  • Operating income declined 5.4%, or 4.1% in constant currency due in part to a non-cash impairment charge for Walmart International. Excluding the impairment charge, operating income would have increased slightly. As expected, the inclusion of Flipkart negatively affected operating income.
  • Third-quarter adjusted EPS excludes a non-cash impairment charge of $0.06, net of tax, and an unrealized gain of $0.05, net of tax, on the company’s equity investment in JD.com.
  • FY20 adjusted EPS is now expected to increase slightly compared to FY19 adjusted EPS.
  • Announced Delivery Unlimited, a grocery delivery membership option, to 1,400 stores in the U.S.
  • Launched InHome Delivery in three U.S. cities covering more than one million customers.
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https://seekingalpha.com/article/4324536-stocks-to-watch-all-eyes-on-walmart

Q4 and FY20 Full-year Earnings (18/02/2020)

Fourth-quarter highlights

  • Total revenue was $141.7 billion, an increase of $2.9 billion, or 2.1%.
  • Walmart U.S. comp sales increased on a two-year stacked basis by 6.0% with continued strength in food and consumables.
  • Walmart U.S. eCommerce had strong growth in grocery pickup and delivery, and walmart.com had its highest quarterly growth rate of the year.
  • Sam’s Club comp sales increased 0.8%, and eCommerce sales grew 33%. Reduced tobacco sales negatively affected comp sales by approximately 300 basis points.
  • Net sales at Walmart International were $33.0 billion, an increase of 2.3%. Disruption in Chile negatively affected operating income by approximately $110 million.

Fiscal 2020 highlights

  • Total revenue was $524.0 billion, an increase of $9.6 billion, or 1.9%. Excluding currency, total revenue was $528.1 billion, an increase of $13.7 billion, or 2.7%.
  • Walmart U.S. comp sales increased 2.8% and 6.4% on a two-year stacked basis.
  • Walmart U.S. eCommerce sales grew 37%. Net Promoter Score and the Customer Value Index improved.
  • Sam’s Club comp sales increased 0.7%. Reduced tobacco sales negatively affected comp sales by
    approximately 310 basis points. Membership trends were strong.
  • International net sales increased 2.8% in constant currency with strength in Mexico, China and India.
  • The company generated $25.3 billion in operating g cash flow and returned $11.8 billion to shareholders through dividends and share repurchases.

Q1 FY21 Earnings (19/05/2020):

  • The company’s net sales and operating results were significantly affected by the outbreak of COVID-19.
    • Unprecedented demand for products across multiple categories led to strong top-line results.
    • Certain incremental costs negatively affected operating income, including costs associated with enhanced wages and benefits as well as safety and sanitation.
  • Total revenue was $134.6 billion, an increase of $10.7 billion, or 8.6%. Excluding currency, total revenue would have increased 9.7% to reach $135.9 billion.
  • U.S. comp sales increased 10.0%.
  • U.S. eCommerce sales grew 74%.
  • Due to continued strength of the Walmart.com brand, the company will discontinue Jet.com. The acquisition of Jet.com nearly four years ago was critical to accelerating our omni strategy.
  • Sam’s Club comp sales increased 12.0%. eCommerce sales grew 40%. Reduced tobacco sales negatively affected comp sales by approximately 410 basis points.
  • Net sales at Walmart International were $29.8 billion, an increase of 3.4%. Changes in currency rates negatively affected net sales by approximately $1.3 billion.
  • Consolidated gross profit rate declined 66 basis points primarily as a result of the carryover of investments in price from last year, a shift in the sales mix to lower-margin categories and channels as well as some markdowns in general merchandise.
  • Consolidated operating expenses leveraged 62 basis points despite incremental costs related to COVID-19.
  • Consolidated operating income was $5.2 billion, an increase of 5.6% and included lower losses in Walmart U.S. eCommerce compared to Q1 FY20. Excluding currency, operating income would have increased 6.6%.
  • Adjusted EPS excludes only the effects of an unrealized gain of $0.22, net of tax, on the company’s equity investment in JD.com.
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Walmart marca el camino del metaverso a los hipermercados: venderá NFT y tendrá su propia criptomoneda

En este sentido, ha solicitado también la patente para crear un hipermercado virtual donde se vendan productos digitales autentificados mediante NFT, aunque también se puedan comprar bienes físicos como en sus establecimientos o en su tienda online, pero con el proceso de compra y la apariencia ligada al metaverso. Podría derivar en una experiencia de compra similar a la que la compañía Mutual Mobile imaginó hace un lustro…
Sus planes de futuro no le han evitado formar parte de las caídas bursátiles de lo que va de año. La compañía se deja casi un 7% desde que arrancó el mes, pero la media de los analistas esperan una revalorización a doce meses del 26%** sobre el valor actual. De hecho, de las 37 casas de análisis que siguen a la compañía, 24 recomiendan su compra, cinco abogan por sobreponderar y ocho prefieren mantener posición…

Pero el futuro no está exento de riesgos. KeyBanc emitía un informe hace unos días en los que señalaba que el fin de los estímulos a la economía por parte del gobierno estadounidense y la presión inflacionista puede lastrar sustancialmente a Walmart. A ello se añadiría el incremento de costes salariales en una empresa que da trabajo a 2,3 millones de personas, siendo el mayor empleador privado del país, como recordaba Edward Yruma, analista de KeyBanc…

image

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A los infiernos Walmart

Las acciones de Walmart estaban en camino de su mayor caída en un día desde la víspera del desplome del mercado de valores del Lunes Negro después de que la compañía recortó su guía de ganancias luego de un trimestre en el que se vio perjudicado por el rápido ritmo de inflación en los EE. UU. El minorista más grande del mundo reveló que las ganancias en su último trimestre habían recibido un golpe “inesperado” debido a salarios más altos, un aumento en los costos de combustible y la debilidad en las ventas de mercancías generales en sus negocios de EE. UU…

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Walmart closes down 11.4% in biggest one-day decline since 1987

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Igual luego descubre la pólvora y se va to the moon, pero con el yield que tiene y con el crecimiento que viene dando desde hace ya años … ni aun metiéndose otro viaje como el de hoy la iba a tocar. Ni con un palo.

Un saludo.

P:D.: Siempre contemplándola desde el tipo de estrategia que aquí se suele seguir. Otra cosa sería intentar operarle el gap que se ha marcado, que para eso igual si da juego.

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Y las subidas de dividendos una caca

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Opinión igual. Dando menos de un 2% y con incrementos de la misma índole, no la tengo en la wish list.

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