Costco Wholesale Beats EPS and Revenue Estimates for Q3 2024

COST Stock Earnings: Costco Wholesale Beats EPS, Beats Revenue for Q3 2024

4 Key Takeaways From Costco's Earnings Call

Costco: Fiscal Q3 Earnings Snapshot

Costco Wholesale reported earnings per share of $3.78, exceeding the analyst estimate of $3.70, and revenue of $58.52 billion, 0.77% higher than the expected $58.07 billion. The company's total comparable sales rose 6.5% on an adjusted basis, and e-commerce sales grew 20.7% year-over-year.

Costco Wholesale Corporation

Costco Expands Partnership with Uber, Offers Grocery Delivery

Costco Delivers Earnings Beat as Digital Sales Jump 20%

Costco Wholesale expanded its partnership with Uber, offering grocery delivery in 17 states in the U.S. and all of its Canadian locations. The company also added Uber Technologies' products to the Uber Eats platform, allowing non-members to purchase Costco goods with special discounts for members.

Costco Maintains Membership Prices, Plans to Continue Lowering Prices

Costco Wholesale maintains its membership prices, with executives discussing the possibility of raising membership prices in the future. The company plans to continue lowering prices to drive sales up and improve customer savings.

Costco Beats Quarterly Revenue Estimates on Strong Grocery Demand

Costco beats quarterly revenue estimates on strong grocery demand

Costco Wholesale Corporation reported strong quarterly results, beating revenue estimates with total revenue of $58.52 billion and a profit of $3.78 per share, exceeding estimates of $3.70. The company's total comparable sales rose 6.5% on an adjusted basis, driven by strong grocery demand.

Costco's CFO Richard Galanti Steps Down, Gary Millerchip Takes Over

What You Need To Know Ahead of Costco's Earnings

Richard Galanti, Costco Wholesale's former CFO, stepped down from his position in March, and Gary Millerchip, former Kroger CFO, took over the role.

Costco's Q3 Net Sales Surge 9.1% to $57.39 Billion

Costco's Q3 net sales up 9.1% to $57.39 billion

Costco Wholesale Corporation reported a 9.1% increase in net sales to $57.39 billion in Q3 of fiscal 2024, with total revenue reaching $58.51 billion. The company's diluted earnings per share grew 29% to $3.78, and net income increased by 29.1% to $1.68 billion.

Costco Delivers Best Earnings Gain in Years

S&P 500 Retail Giant Delivers Best Earnings Gain In Years

Costco reported a 29% increase in earnings per share to $3.78, marking its best quarterly earnings gain in years. The company's revenue rose 9% to $58.515 billion, with same-store sales advancing 6.6% and e-commerce sales jumping 20.7%.

Costco Expands Partnership with Uber Grocery

Costco Q3 earnings beat all key metrics, after shares closed at an all-time high

Costco expanded its partnership with Uber Grocery in the US and Canada in Q3 2024, enhancing its e-commerce capabilities.

Costco Q3 Earnings Beat Expectations, Shares Close at All-Time High

Costco reported net sales of $58.52 billion in Q3 2024, surpassing estimates of $57.98 billion. The company's adjusted earnings of $3.78 beat estimates of $3.70, with same-store sales increasing by 6.5% and e-commerce sales growing by 20.7%.

Costco's Earnings Expectations and Price Target Upgrade

Costco's Earnings Expectations & An Early Price Target Upgrade On COST Shares

Costco is expected to report $3.71 EPS, $57.97bn revenue, and $1.63bn net income. Argus upgrades Costco's price target to $900, expecting consistent growth and a strong cash financial position.

Costco Wholesale Corporation operates an international chain of membership warehouses, offering quality, brand-name merchandise at substantially lower prices than conventional wholesale or retail sources. It caters to small- to medium-sized businesses and individuals, providing a wide range of products from groceries to electronics, and operates self-service gasoline stations at various locations.

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories. The company offers sundries, dry groceries, candies, coolers, freezers, liquor, and tobacco and deli products; appliances, electronics, health and beauty aids, hardware, garden and patio products, sporting goods, tires, toys and seasonal products, office supplies, automotive care products, postages, tickets, apparel, small appliances, furniture, domestics, housewares, special order kiosks, and jewelry; and meat, produce, service deli, and bakery products. It also operates pharmacies, opticals, food courts, hearing-aid centers, and tire installation centers, as well as 636 gas stations; and offers business delivery, travel, same-day grocery, and various other services online in various countries. As of August 29, 2021, the company operated 815 membership warehouses, including 564 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in South Korea, 14 in Taiwan, 12 in Australia, 3 in Spain, 1 in Iceland, 1 in France, and 1 in China. It also operates e-commerce websites in the United States, Canada, the United Kingdom, Mexico, South Korea, Taiwan, Japan, and Australia. The company was formerly known as Costco Companies, Inc. and changed its name to Costco Wholesale Corporation in August 1999. Costco Wholesale Corporation was founded in 1976 and is based in Issaquah, Washington.

COM:COSTCO

Costco Wholesale Corporation

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20/11 21:00

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