Walmart Inc. (NYSE:WMT) Evercore ISI Consumer & Retail Conference Call June 14, 2023 10:15 AM ET Company Participants John Rainey - Executive Vice President and Chief Financial Officer Steph Wissink - Senior Vice President and Head, Investor Relations Conference Call Participants Greg Melich - Evercore Group LLC Greg Melich Good morning, everyone. I'm Greg Melich. I cover the Retail Broadlines and Hardlines here at Evercore ISI. It's my pleasure to have with us today, John David Rainey, the Chief Financial ...

Walmart Inc. (NYSE:WMT) Baird 2023 Global Consumer, Technology & Services Conference June 7, 2023 9:05 AM ET Company Participants Kath McLay - President and CEO, Sam’s Club Conference Call Participants Peter Benedict - Robert W. Baird & Co. Peter Benedict Good morning, everybody. Thanks for joining us here for the next session. I’m Peter Benedict, Senior Retail Consumer Products and Services Analyst at Baird. Really thrilled to have the folks from Sam’s Club with us this morning. After this session there wi ...

Walmart Inc. (NYSE:WMT) 2023 Q&A Session with the Investment Community Conference June 2, 2023 1:30 PM ET Company Participants Steph Wissink - SVP, IR Doug McMillon - President and CEO John David Rainey - EVP and CFO John Furner - President and CEO, Walmart U.S. Judith McKenna - President and CEO, Walmart International Dave Guggina - EVP, Supply Chain Operations, Walmart U.S Kathryn McLay - President and CEO, Sam’s Club Latriece Watkins - EVP and Chief Merchandising Officer, Walmart U.S. Seth Dallaire - EVP ...

Sales Performance - Comparable sales in the U.S. increased by 7.1% for the three months ended April 30, 2023, compared to the same period in the previous fiscal year[64]. - Walmart U.S. segment had comparable sales growth of 7.5% for the same period, driven by strong food sales and higher inflation impacts[64]. - Sam's Club segment's comparable sales increased by 4.6% for the three months ended April 30, 2023, benefiting from growth in average ticket and transactions[64]. - Walmart U.S. segment net sales increased by $7.0 billion or 7.2% for the three months ended April 30, 2023, driven by comparable sales growth of 7.5%[77]. - Walmart International segment net sales increased by $2.8 billion or 12.0% for the three months ended April 30, 2023, compared to the same period in the previous fiscal year[78]. - Sam's Club segment net sales increased by $0.9 billion or 4.5% for the three months ended April 30, 2023, driven by comparable sales growth of 4.6%[79]. - Sam's Club eCommerce sales contributed approximately 1.5% to comparable sales, primarily from Curbside Pickup and Ship to Home[80]. Financial Performance - Net sales for the three months ended April 30, 2023, were $151,004 million, a 7.6% increase from $140,288 million in the same period of the previous year[66]. - Operating income for the three months ended April 30, 2023, was $6,240 million, up from $5,318 million in the same period last year[66]. - Operating income for the consolidated results was $6.24 billion for the three months ended April 30, 2023, compared to $5.32 billion in the same period last year[75]. - Total revenues increased by $10.7 billion or 7.6% for the three months ended April 30, 2023, compared to the same period in the previous fiscal year[75]. - Gross profit as a percentage of net sales decreased to 23.7% for the three months ended April 30, 2023, from 23.8% in the prior year[66]. - Operating income as a percentage of net sales increased to 4.1% for the three months ended April 30, 2023, compared to 3.8% in the same period last year[66]. - Gross profit margin as a percentage of net sales was 23.7% for the three months ended April 30, 2023, slightly down from 23.8% in the previous year[75]. Cash Flow and Investments - Net cash provided by operating activities was $4.6 billion for the three months ended April 30, 2023, representing an increase of $8.4 billion compared to the same period in the prior year[73]. - Free cash flow for the three months ended April 30, 2023, was $0.2 billion, an increase of $7.5 billion compared to the same period in the prior year[73]. - Net cash used in investing activities was $4.9 billion for the three months ended April 30, 2023, compared to $4.6 billion in the same period of the previous year[84]. - Net cash provided by financing activities decreased to $1.9 billion for the three months ended April 30, 2023, from $5.3 billion in the same period of the previous year[86]. Returns and Capital Expenditures - Return on Assets (ROA) was 4.5% for the trailing twelve months ended April 30, 2023, down from 5.5% in the previous year[67]. - Return on Investment (ROI) decreased to 12.7% for the trailing twelve months ended April 30, 2023, from 13.9% in the prior year[67]. - Total capital expenditures for the three months ended April 30, 2023, were $4.43 billion, an increase from $3.54 billion in the same period last year[71]. Tax and Dividend Information - The effective income tax rate increased to 29.5% for the three months ended April 30, 2023, compared to 27.5% for the same period in the previous fiscal year[75]. - The Board of Directors approved a fiscal 2024 annual dividend of $2.28 per share, an increase from $2.24 per share in fiscal 2023[89]. Credit Ratings and Market Risks - Credit ratings from Standard & Poor's are A-1+ for commercial paper and AA for long-term debt[98]. - Moody's Investors Service rates the company P-1 for commercial paper and Aa2 for long-term debt[98]. - Fitch Ratings assigns an F1+ rating for commercial paper and AA for long-term debt[98]. - The company acknowledges that credit ratings may be revised based on operating performance and economic conditions[98]. - A downgrade in credit ratings could increase future borrowing costs and limit access to capital markets[98]. - As of April 30, 2023, there were no material changes to market risks related to interest rates and currency exchange rates[101]. - The company refers to its Annual Report on Form 10-K for detailed disclosures about market risks[101]. Business Environment Outlook - The company expects continued uncertainty in the business environment due to inflation, geopolitical conditions, and supply chain disruptions[61]. - The company's working capital deficit increased to $17.0 billion as of April 30, 2023, from $13.3 billion a year earlier[83]. - The company repurchased 4.8 million shares at an average price of $143.46, totaling $686 million during the three months ended April 30, 2023[94].

Walmart Inc. (NYSE:WMT) Q1 2024 Earnings Conference Call May 18, 2023 8:00 AM ET Company Participants Steph Wissink - Senior Vice President, Investor Relations Doug McMillon - President and CEO, Walmart Inc. John David Rainey - EVP and CFO, Walmart Inc. John Furner - President and CEO, Walmart U.S. Judith McKenna - President and CEO, Walmart International Kathryn McLay - President and CEO, Sam's Club Conference Call Participants Michael Lasser - UBS Katharine McShane - Goldman Sachs Oliver Chen - TD Cowen S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 10-K ___________________________________________ ☒ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended January 31, 2023, or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 001-06991. ___________________________________________ WALMART INC. (Exact name of registrant ...

Walmart Inc. (NYSE:WMT) Raymond James 44th Annual Institutional Investors Conference Call March 7, 2023 10:25 AM ET Company Participants John David - Executive Vice President and Chief Financial Officer Conference Call Participants Bobby Griffin - Raymond James Bobby Griffin Well, good morning, everybody. Thanks for joining us at our 44th Annual Institutional Investor Conference. For those that don't know me, I'm Bobby Griffin. I cover consumer Hardlines/Retail here at Raymond James. And this morning, we're ...

Walmart Inc. (NYSE:WMT) Q4 2023 Results Conference Call February 21, 2023 8:00 AM ET Company Participants Steph Wissink - Senior Vice President, Investor Relations Doug McMillon - Chief Executive Officer John David Rainey - Chief Financial Officer John Furner - President and CEO of Walmart U.S. Judith McKenna - President and CEO of Walmart International Kath McLay - President and CEO of Sam's Club Conference Call Participants Oliver Chen - Cowen and Company Simeon Gutman - Morgan Stanley Chris Horvers - JPM ...

Summary of Walmart Inc. Conference Call Company Overview - **Company**: Walmart Inc. (NYSE: WMT) - **Event**: Morgan Stanley Global Consumer & Retail Conference - **Date**: December 7, 2022 - **Participants**: Doug McMillon (President and CEO), Simeon Gutman (Morgan Stanley Analyst) Key Points Industry and Market Dynamics - **E-commerce Growth**: Walmart reported a global e-commerce revenue of $73 billion, indicating significant growth in this segment [8] - **Consumer Behavior Changes**: There has been a noticeable shift in consumer spending patterns due to inflation, with lower-income households prioritizing essentials over discretionary purchases [12][13] - **Inflation Impact**: Inflation rates have exceeded initial forecasts, particularly in dry grocery and consumables, affecting consumer purchasing behavior across all income levels [11][12] Strategic Initiatives - **Omni-channel Strategy**: Walmart has successfully integrated its physical and digital channels, enhancing customer experience and operational efficiency [9] - **Automation in Supply Chain**: The company is investing in automation technologies to improve supply chain efficiency, which is expected to lead to higher margins and better inventory management [4][57][60] - **Walmart Plus Membership**: The membership program is seen as a key driver for attracting higher-income consumers, although it is not the sole factor for growth [19][20] Financial Performance and Outlook - **Top and Bottom Line Growth**: Walmart is optimistic about future growth, citing opportunities for better business management and productivity improvements [4][5] - **Inventory Management**: The company is taking a cautious approach to inventory purchasing to avoid overstocking issues experienced in the past [33][34] - **Price Management**: Walmart is focused on maintaining price gaps to drive growth, with a fluid pricing strategy in response to market conditions [51][52] Alternative Profit Streams - **Marketplace and Advertising**: The growth of the marketplace and advertising services is expected to contribute significantly to overall profitability [76] - **Healthcare and Financial Services**: These segments are viewed as long-term growth opportunities, with ongoing investments to enhance their contributions to the business model [76][84] International Operations - **Key Markets**: Walmart's international operations in Mexico, Canada, India, and China are performing well, with a focus on customer-centric strategies [82][83] - **Patience in Growth Markets**: The company is committed to long-term investments in high-growth markets like India, balancing profitability with strategic growth [85][86] Challenges and Risks - **Consumer Price Sensitivity**: Increased price sensitivity among consumers may impact discretionary spending, affecting overall sales quality during peak seasons [13][14] - **Geopolitical Considerations**: Walmart is mindful of geopolitical factors in its international markets, ensuring compliance and positive stakeholder relationships [87] Conclusion - Walmart is navigating a complex retail environment marked by inflation and changing consumer behaviors while focusing on strategic investments in e-commerce, automation, and alternative profit streams to drive future growth. The company remains committed to its omni-channel strategy and maintaining competitive pricing to enhance customer loyalty and market share.