Costco Wholesale Q2 Earnings Highlights: Revenue Miss, EPS Beat, Sales Update And More

Retailer Costco Wholesale Corporation COST reported second-quarter financial results after the market close Thursday.

Here are the key highlights.

What Happened: Costco reported total revenue of $58.44 billion in the second quarter, which missed a Street consensus estimate of $59.16 billion, according to data from Benzinga Pro.

The company reported net sales of $57.33 billion, which were up 5.7% year-over-year. The company said the net sales were impacted by the shift of the fiscal calendar.

Costco reported earnings per share of $3.92 in the second quarter, which beat a Street consensus estimate of $3.61.

Comparable sales for the second quarter were as follow:

U.S: +4.8%

Canada: +9.0%

Other International: +8.2%

Total Company: +5.8%

E-commerce: +18.2%

The company ended the second quarter with 872 warehouses across multiple countries, including 603 in the United States and Puerto Rico.

Related Link: Costco Q2 Earnings Preview: Membership Fee Increase Could Be Coming, Hot Dog & Soda Combo To Stay The Same

What's Next: Costco reported that four-week sales for the period ending March 3, 2024 were $18.21 billion, up 6.9% year-over-year

COST Price Action: Costco shares are down 4.26% to $752.14 in after-hours trading Thursday versus a 52-week trading range of $456.42 and $787.05. Shares hit a new 52-week high in intraday trading Thursday.

Read Next: Costco’s Technical Momentum Builds Ahead Of Q2 Earnings

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