Costco

The following is a summary of the Costco Wholesale Corporation (COST) Q1 2024 Earnings Call Transcript: Financial Performance: Costco’s reported net income for Q1 2024 increased to $1.589 billion or $3.58 per share. The company saw a 6.1% increase in net sales to $56.72 billion from last year’s $53.44 billion. There was a tax benefit of $44 million or $0.10 a share included in this year’s results related to stock-based compensation. Membership fee income for the quarter increased by 8.2% to $1.082 billion. Renewal rates for the memberships have shown a positive trend with U.S. and Canada renewal rate standing at 92.8% and the worldwide rate at 90.5%. For this quarter, the net income was up by 16.5% year-over-year. Business Progress: For FY ’24, plans are underway to open 33 new locations, indicating a significant increase from the 23 opened in FY ’23. E-commerce sales presented an area of growth, […]

Costco Wholesale (NASDAQ:COST) Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/15/2023 8.93% Telsey Advisory Group $625 → $700 Maintains Outperform 12/13/2023 5.04% Oppenheimer $630 → $675 Maintains Outperform 12/12/2023 1.15% Evercore ISI Group $640 → $650 Maintains Outperform 11/30/2023 -4.3% Stifel $595 → $615 Maintains Buy 11/30/2023 -3.68% Truist Securities → $619 Reiterates Buy → Buy 11/30/2023 -2.74% Telsey Advisory Group $600 → $625 Maintains Outperform 11/27/2023 -6.64% Telsey Advisory Group → $600 Reiterates Outperform → Outperform 11/13/2023 -7.41% Stifel $575 → $595 Maintains Buy 11/02/2023 -5.86% JP Morgan $620 → $605 Maintains Overweight 11/02/2023 -6.64% Telsey Advisory Group → $600 Reiterates Outperform → Outperform 10/30/2023 -6.64% Telsey Advisory Group → $600 Reiterates Outperform → Outperform 10/19/2023 -6.64% Telsey Advisory Group → $600 Reiterates Outperform → Outperform 10/05/2023 -3.68% Truist Securities → $619 Reiterates Buy → Buy 10/05/2023 -3.52% JP Morgan $571

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $659 from $577, 42x our FY 24 (Aug.) EPS of $15.68 (up from $15.60; FY 25 up to $17.07 from $16.97) vs. 36x five-year average forward P/E. F1Q EPS of $3.58 (+17%) beat by $0.15 on comp sales growth (ex-fuel and FX) of 3.9% (+4.7% traffic; -1.6% average transaction amount). Membership growth continued as COST ended F1Q with 72.0M paid households (+7.6% Y/Y) and 33.2M Executive members (+0.9M Q/Q). The renewal rate was 92.8% in the U.S. and Canada, up 10 bps Q/Q. Inflation averaged 1%-2% in the quarter but trended toward 0%-1% as the quarter ended. In our view, these are the ingredients needed to support a membership fee hike, which is past due based on historic trends (usually every

Costco Wholesale Corp. (COST) late Wednesday said that its October net sales rose 4.5% to $18.53 billion, from $17.73 billion in October 2022. Costco same-store sales rose 3%, and e-commerce sales, which during the height of the pandemic grew by double-digit numbers for several months, rose 3.7%. Costco shares were flat in the after-hours session after a 0.8% advance in the regular trading day.

Costco Q4 Net Sales $77.43B, Up 9.4% YoY; Total Revenue $78.939B.

Costco Wholesale Executive Said Traffic, Or Shopping Frequency, Up 5.2% Worldwide; 5.0% In The U.S. In Q4,; Q4 Average Transaction Down 3.9% Worldwide, Down 4.5% In The U.S., Due To Weak Big-ticket Discretionary Demand, Gas Price Deflation.

Costco Executive Said At Q4 End, U.S. And Canada Membership Renewal Rates Stood At 92.7%,; Ended Q4 With Paid Household Members Up 7.9% Vs A Year Ago.

Costco Executive Said- Gross Margin In Q4 Came In At 10.60%, Up 42 Basis Points Vs A Year Ago.

When asked about raising annual fees, CFO says ‘you’ll see it happen at some point’ Costco Wholesale Corp.’s financial chief assured analysts late Tuesday that theft hasn’t been a problem over the past year, after the membership warehouse chain reported quarterly results that topped Wall Street expectations. Costco (COST) reported fourth-quarter net income of $2.16 billion, or $4.86 a share, compared with $1.87 billion, or $4.20 a share, in the year-ago period, and revenue of $78.94 billion, up from $72.09 billion in the year-ago quarter. Analysts on average expected earnings of $4.82 a share on revenue of $78.81 billion, according to FactSet. Sales at stores open for at least a year rose 1.1%, or 3.8% adjusted for gasoline and currency, compared with the Street’s 3.5% growth estimate. Total annual revenue rose to $242.29 billion from $226.95 billion in the previous fiscal year, while analysts were forecasting $242.17 billion in revenue.

Inflation has continued to recede for Costco in the latest quarter. CFO Richard Galanti says on a call with analysts that inflation was lower sequentially in the fiscal fourth quarter at 1% to 2%, compared with 3% to 4% in the prior quarter. Galanti says inflation trended down during the quarter as well. Still, Galanti makes no projection about where the trend will go in the next year. “Who knows what tomorrow brings,” he says.

Costco Wholesale Corporation (NASDAQ:COST) Reports August Net Sales $18.42B, Up 5% YoY。