Costco Q3 Earnings: Revenue Beat, EPS Beat, Comps Up 5.7%, Membership Fee Growth And More

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

Q3 Earnings: Costco reported third-quarter revenue of $63.2 billion, beating analyst estimates of $63.19 billion. The membership-based retailer reported third-quarter adjusted earnings of $4.28 per share, beating analyst estimates of $4.13 per share, according to Benzinga Pro.

Net sales for the third quarter were up 8% year-over-year. Total comparable sales were up 5.7% on a year-over-year basis. Here’s a breakdown of comparable sales growth by region:

• U.S.: up 6.6%

• Canada: up 2.9%

• Other International: up 3.2%

Membership fees came in at $1.24 billion, up from $1.12 billion in the prior year's quarter. Costco raised the price of its annual store membership by five dollars in September 2024, marking the company's first membership price hike since 2017.

Costco said it operates 905 warehouses, including 624 in the U.S. The company ended the quarter with approximately $13.84 billion in cash and cash equivalents.

Costco executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.

COST Price Action: Costco shares were up 0.32% in after-hours, trading at $1,008.74 at the time of publication on Thursday, according to Benzinga Pro.

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