Costco Wholesale’s Financial Results Top Estimates

Grocery retailer Costco Wholesale (COST) has reported quarterly financial results that beat Wall Street estimates.The Seattle-based warehouse club reported earnings per share (EPS) of $4.28 U.S., which was ahead of the $4.24 U.S. expected among analysts. Revenue in the period totaled $63.21 billion U.S., which was slightly ahead of consensus forecasts of $63.19 billion U.S. The company’s sales were up 8% from a year earlier.Costco’s net income rose to $1.90 billion U.S., up from $1.68 billion U.S. a year earlier. Total comparable sales were up 5.7% on a year-over-year basis. Management said Costco’s membership fees came in at $1.24 billion U.S., up 11% from $1.12 billion U.S. the previous quarter. Costco raised the price of its annual store membership by $5 U.S. in September 2024, the company’s first membership price increase since 2017.Costco added that it currently operates 905 warehouse clubs worldwide, including 624 in the U.S. The company ended the quarter with $13.84 billion U.S. in cash on hand. Costco’s stock has gained 11% this year to trade at $1,008.74 U.S. per share.