COST Costco Wholesale Corp /New

What the last report said

Thu, May 28, 2026

Costco FY26Q3: modest revenue/EPS miss vs consensus, but total revenue +11.6% YoY, membership fees +10.7% and comps +9.8% show demand remains resilient

• Total revenue $70.527B (vs $63.205B, +11.6%), split into net sales $69.154B (vs $61.965B) and membership fee income $1.373B (vs $1.240B, +10.7%) — high-quality fee growth
• Total comparable sales +9.8% (+6.6% adjusted for gas/FX): U.S. +9.4%, Canada +10.7%, Other International +11.2%, all regions positive
• Digitally-enabled comps +21.5% (+20.8% adjusted), online growing well ahead of total
• Operating income $2.815B (vs $2.530B), net income $2.192B (vs $1.903B), diluted EPS $4.93 (vs $4.28, +15.2%); merchandise costs $61.519B, SG&A $6.193B, interest income & other net $155M (vs $85M) on higher cash
• 36-week operating cash flow $11.133B (vs $9.468B), period-end cash $18.946B (vs $14.161B at year start), capex $4.228B for new warehouses and remodels
• 931 warehouses total (639 U.S. & Puerto Rico, 115 Canada, 43 Mexico, etc.)

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