Costco Q4 Earnings: Revenue Miss, EPS Beat, Comps Climb 5.4%, Shares Slide

Costco Wholesale Corp (NASDAQ:COST) reported fourth-quarter financial results after the market close on Thursday. Here’s a look at the key numbers from the quarter.

Q4 Earnings: Costco reported fourth-quarter revenue of $79.697 billion, missing the consensus estimate of $79.973 billion. The membership-based retailer reported quarterly earnings of $5.29 per share, beating analyst estimates of $5.08 per share, according to Benzinga Pro.

Comparable sales in the fourth quarter were up 5.3% in the U.S., up 5.5% in Canada and up 5.7% in the Other International segment. Total comps climbed 5.4% year-over-year, and total e-commerce sales jumped 18.9%. The reported figures were adjusted to account for the total weeks in the quarter.

Costco’s fourth quarter this year was a 16-week period versus 17 weeks in the fourth quarter of 2023.

Membership fees came in at $1.512 billion, up from $1.509 billion in the prior year’s quarter. Costco announced it was raising the price of its annual store membership by $5 in July. The membership fee increase went into effect on Sept. 1.

Costco noted it now operates 891 warehouses. The company said it ended the quarter with $9.906 billion in cash and cash equivalents.

Management will hold a conference call with investors and analysts to discuss these results at 5 p.m. ET.

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COST Price Action: Costco shares were down 1.10% in after hours, trading around $891.50 at the time of publication Thursday, per Benzinga Pro.

Photo: Wikimedia Commons.