Costco Q3 Earnings Highlights: Revenue Beat, EPS Beat, No Membership Fee Increase Announced

Costco Wholesale Corporation +0.76%

Costco Wholesale Corporation

COST

893.49

+0.76%

Retailer Costco Wholesale Corporation (NASDAQ:COST) reported third-quarter financial results after market close Thursday.

Here are the key highlights.

What Happened: Costco reported third-quarter revenue of $58.52 billion, up 9.1% year-over-year. The revenue total beat a Street consensus estimate of $58.07 billion, according to data from Benzinga Pro.

Net sales, which didn't include membership fees, were $57.39 billion, up 9.1% year-over-year.

The company said net sales were positively impacted by 0.5% to 1.0% due to a shift in the fiscal calendar.

Costco reported earnings per share of $3.78 for the third quarter, which beat a Street consensus estimate of $3.70 per share.

Comparable same store sales in the third quarter were:

  • U.S.: +6.2%
  • Canada: +7.7%
  • Other International: +7.7%
  • Total Company: +6.6%
  • E-Commerce: +20.7%

The company said it currently operates 878 warehouses globally, with 605 in the United States and Puerto Rico as its largest market.

Related Link: Costco Q3 Earnings Preview: Analyst Estimates, Foot Traffic Data, Membership Fee Increase Eyed By Investors


What's Next: The company will hold a conference call at 5 p.m. ET to discuss the results.

Analysts and investors will likely be tuning in to hear more on the company's guidance going forward. A key topic will also likely be plans to increase the membership fee.

Many investors and analysts have been anticipating a membership fee increase since the company last raised the price in 2017. Costco increases the membership fee every five to six years on average.

COST Price: Costco shares are down 2% to $799.50 in after–hours trading, versus a 52-week trading range of $490.94 to $819.50. The stock hit a new 52-week high during Thursday's trading session.

Read Next: Benzinga’s ‘Stock Whisper’ Index: 5 Stocks Investors Secretly Monitor But Don’t Talk About Yet

Photo: Shutterstock

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via