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.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended October 31, 2022. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. | --- | --- | |---------------------------------------------------------------------------------------|-----------------------------------------------------| | | | | For the transition ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended July 31, 2022. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. | --- | --- | |---------------------------------------------------------------------------------------|-----------------------------------------------------| | | | | For the transition pe ...