Zinger Key Points
- Costco reported net sales of $52.6 billion for the third quarter, which was up 1.9% year-over-year.
- Total revenue of $53.65 billion was up from last year’s $52.6 billion in the same quarter.
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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.
Photo via Shutterstock.
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