Costco Q3 Earnings Highlights: Revenue Miss, Same Store Sales Drop, Store Count And More

Retailer Costco Wholesale Corp COST reported third-quarter financial results after the market close Thursday. Here are the key highlights.

What Happened: Costco reported net sales of $52.6 billion for the third quarter, which was up 1.9% year-over-year.

Membership revenue was $1 billion in the third quarter, compared to $984 million in the year ago period.

Total revenue of $53.65 billion was up from last year’s $52.6 billion in the same quarter. The revenue total missed a Street consensus estimate of $54.57 billion, according to data from Benzinga Pro.

Comparable sales in the third quarter were:

• U.S: -0.1%
• Canada: -1%
• International: +4.1%
• Ecommerce: -10%

The company reported earnings per share of $2.93 in the third quarter, which includes a non-recurring charge of 50 cents per share.

Related Link: Trading Strategies For Costco Stock After Q3 Earnings

Costco ended the quarter with 853 warehouses. The warehouses were split as the following:

• United States and Puerto Rico: 587
• Canada: 107
• Mexico: 40
• Japan: 32
• United Kingdom: 29
• Korea: 18
• Taiwan: 14
• Australia: 14
• Spain: 4
• China: 3
• France: 2
• Iceland: 1
• New Zealand: 1
• Sweden: 1

COST Price Action: Costco shares dipped after-hours Thursday but were trading slightly positive at the time of publication at $486.64. 

Read Next: Costco Prepares For Q3 Earnings Release: Comparable Sales And Market Challenges Draw Investor Attention

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