Walmart reports Q2 FY17 EPS of $1.21, adjusted EPS1 of $1.07, Raises full-year adjusted EPS1 guidance range to $4.15 to $4.35
August 18 2016 - 07:02AM
Business Wire
Wal-Mart Stores, Inc. (NYSE: WMT):
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Walmart reports Q2 FY17 earnings
- Diluted EPS was $1.21. Currency
negatively impacted EPS by approximately $0.03.
- Adjusted EPS1 of $1.07 excludes a
non-cash gain of $0.14, net of tax, from the sale of Yihaodian in
China.
- Total revenue was $120.9 billion, an
increase of 0.5%. On a constant currency basis1, total revenue was
$123.6 billion, an increase of 2.8%.
- Walmart U.S. delivered positive comp
sales for the eighth consecutive quarter, up 1.6%, driven by the
seventh consecutive quarter of positive traffic, up 1.2%.
Neighborhood Market comp sales increased approximately 6.5%.
- Net sales at Walmart International were
$28.6 billion. Excluding currency1 impacts, net sales were $31.3
billion, an increase of 2.2%.
- Globally, on a constant currency basis,
e-commerce sales and GMV increased 11.8% and 13.0%, respectively,
representing an acceleration from the first quarter.
- Consolidated operating income increased
1.6%, including a gain of $535 million from the sale of Yihaodian.
Excluding this gain, consolidated operating income declined 7.2%.
As expected, investments in people and technology, as well as
currency exchange rate fluctuations negatively impacted
results.
- Year to date operating cash flow was
$14.9 billion and free cash flow1 was $10.3 billion, both
approximately $5.0 billion higher than last year primarily due to
improved working capital management, including significant
inventory improvement, and timing of payments.
- The company now estimates fiscal year
2017 adjusted EPS1 of $4.15 to $4.35, or GAAP EPS of $4.29 to
$4.49, both of which include an estimated dilutive impact to EPS of
approximately $0.05, primarily in the fourth quarter, as a result
of expected operating losses and one-time transaction expenses
related to the planned acquisition of Jet.com. The adjusted EPS
guidance excludes the non-cash gain of $0.14, net of tax, from the
sale of Yihaodian.
1 See additional information at the end of this release
regarding non-GAAP financial measures.
2 Q2 FY17 includes the gain from the sale of Yihaodian, which
was $535 million on a reported basis and $568 million on a constant
currency basis.
3 $12.7 billion remaining of $20 billion authorization approved
in October 2015. The company repurchased approximately 30 million
shares in Q2 FY17.
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, nearly
260 million customers and members visit our 11,539 stores under 63
banners in 28 countries and e-commerce websites in 11 countries.
With fiscal year 2016 revenue of $482.1 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.
Along with this press release, Walmart makes available a
recorded call with executive leaders and a financial presentation
to review the 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)
MP3 @ stock.walmart.com
The call is archived at stock.walmart.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160818005466/en/
Wal-Mart Stores, Inc.Investor Relations:Steve Schmitt,
479-258-7172orMedia Relations:Randy Hargrove, 800-331-0085
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