In a press release dated February 18th Walmart Inc. (WMT) announced results for the 4th quarter and FY 2021 ending December 31st 2020.
The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS)
|
4th Quarter Ending December 31st
|
2020
|
2019
|
Difference (%)
|
|
Sales:
|
$152,079,000
|
$141,671,000
|
+7.3
|
|
Gross profit:
|
$36,818,000
|
$33,923,000
|
+8.5
|
|
Operating income:
|
$5,487,000
|
$5,322,000
|
+3.1
|
|
Pre-tax Income
Net Income
|
$(593,000)1
$(2,091,000)
|
$5,673,0002
$4,141,000
|
Neg.
Neg.
|
|
Diluted earnings per share:
|
$(0.74)
|
$1.46
|
Neg.
|
|
Gross Margin (%)
|
24.2
|
23.9
|
+1.3
|
|
Operating Margin (%)
|
3.6
|
3.8
|
-5.3
|
|
Profit Margin (%)
|
(1.3)
|
2.9
|
-144.8
|
|
Long-term Debt and lease obligations:
|
$4,581,000
|
$7,155,000
|
-36.0
|
|
12 Months Trailing:
|
|
Return on Assets (%)
|
6.7
|
|
Return on Equity (%)
|
24.1
|
|
Operating Margin (%)
|
4.8
|
|
Profit Margin (%)
|
3.6
|
|
Total Assets
|
$252,496,000
|
$236,495,000
|
+6.8
|
|
Market Capitalization
|
$392,060,000
|
Notes 1. Charge of $5.59 billion (Loss on pending sales of operations in Japan and U.K.?)
- Gain of $962 million
For FY 2021 WMT earned $13.51 billion on sales of $559.15 billion with an EPS of $4.75. the comparative values for FY 2020 were: earnings of $14.88 billion on sales of $523.96 billion with an EPS of $5.19.
Q4 operating results for Segments were:-
Walmart USA: Revenue $99.6 billion, Operating income $5.2 billion with an 8.6 percent same-store sales growth.
Walmart International: Revenue $34.9 billion, Operating income $1.0 billion with an 6.3 percent same-store sales growth.
Sam’s Club: Revenue $16.5 billion, Operating income $0.4 billion with an 10.8 percent same-store sales growth.
E-commerce sales increased by 79 percent during Q4 of FY 2021 compared with Q4 of FY 2020
52-Week Range in Share Price: $102.00 to $153.66
Market Close February 17th $146.74. Post-release February 18th at 14H00 $138.57 (down 5.9 percent)
Forward P/E 24.8 Beta 0.5
In commenting on Q4 and Y 2021 results Doug McMillon CEO stated, “we completed a strong year and a strong Q4 thanks to our amazing associates. They stepped up to serve our customers and members exceptionally well during a busy holiday period in the midst of a pandemic,” He added “change in retail accelerated in 2020. The capabilities we’ve built in previous years put us ahead, and we’re going to stay ahead. Our business is strong, and we’re making it even stronger with targeted investments to accelerate growth, including raises for 425,000 associates in frontline roles driving the customer experience.”
McMillon concluded “this is a time to be even more aggressive because of the opportunity we see in front of us. The strategy, team and capabilities are in place. We have momentum with customers, and our financial position is strong.”
Walmart employs 2.2 million worldwide with 10,800 stores in 25 nations serving 230 million customers each week.
The Company provided FY 2022 guidance in the form of low single-digit increases in revenue and EPS.