Below is Dolphin Research's Trans of $Costco Wholesale(COST.US) FQ3 2026 earnings call. For our earnings take, see 'Inflation Resurges, Costco Still Resilient'.
I. Earnings highlights recap. 1) Key financials: FQ3 2026 (12 weeks ended May 10, 2026) net income of $2.20bn (+15% YoY), with diluted EPS of $4.93.Net sales were $69.15bn (+11.6% YoY). Comparable sales rose 9.8%...
Global discount retail leader — $Costco Wholesale(COST.US) — reported after-hours on May 29 its FY2026 Q3 results for the period ended May 10. Overall performance remained very resilient, broadly in line with market expectations.
By contrast, Dolphin Research believes the company’s prints offer a useful lens into shifts in US consumer health. That may be the more interesting angle.On the headline numbers, the key narrative this quarter was US–Iran tensions pushing up oil and commodity prices, lifting both revenue and costs. On revenue, total sales rose 11.6% YoY this quarter...
+15Below is Dolphin Research's summarized transcript on $Costco Wholesale(COST.US) FY26 Q2 earnings call; for the earnings analysis, cf. 'Will AI trigger mass layoffs? Costco remains a safe haven'.
I. Core financial highlights review. II. Detailed call notes — 2.1 Management's key messages. 1) Tariff impact: the future impact remains highly uncertain. IEEPA tariffs that were previously cancelled have been replaced by new global tariffs, effective for at least the next 150 days. Refunds: regarding IEEPA tariff refunds...
Global discount retail leader — $Costco Wholesale(COST.US) reported Q2 FY2026 results in U.S. after-hours today.
The quarter ended on Feb 15.Overall, results remained solid, with both revenue and earnings slightly beating estimates.
Momentum stayed intact.On headline metrics, total revenue rose 9.2% YoY, an acceleration vs. last quarter’s 8.3%.
The pickup was aided by FX tailwinds and broadly higher precious metals and commodity prices.OP was $2.61bn, up 12.5% YoY.
Margin expanded by 10 bps YoY, remaining on an improving trajectory...
+14Below is Dolphin Research's full earnings call Trans for $Costco Wholesale(COST.US) FY26 Q1. For our First Take, see 'US Gov. shutdown victim? Is Costco's last leg down?'
1) Key metrics recap. Headline results: net income of $2.001bn and diluted EPS of $4.50.
Excluding tax benefits related to SBC, net income and EPS rose 13.6% YoY. Sales: net sales were $65.98bn (+8.2% YoY), with comps up 6.4%...
The global discount retail leader — $Costco Wholesale(COST.US) — reported FY2026 Q1 results for the quarter ended Nov 23 after the U.S. close on Dec 11.
Overall performance was steady, with revenue and OP growth improving and slightly beating estimates.However, key operating metrics — comps/traffic growth and member additions/renewal rates — remained soft.Specifically:1) Same-store growth looks better, but traffic is still weakening.Overall comps rose 6.4% this quarter, an acceleration of 70bps vs. last quarter...
+14The following are the minutes of Costco FY25Q4 earnings call organized by Dolphin Research. For earnings interpretation, please refer to the article "The Middle Class is also 'Weakening', is Costco Facing Headwinds?". 1. Review of Core Financial Information 1. Same-store sales: Reported growth of 5.7%, adjusted growth of 6.4% after excluding the impact of gasoline price deflation (-0.9%) and foreign exchange (+0.2%). a. Traffic: Global growth of 3.7%, the main driver of sales growth...
Global Discount Retail King—$Costco Wholesale(COST.US) released its Q4 FY2025 financial report, ending in late August, after the U.S. stock market closed on September 26. Overall, Costco's growth remains relatively stable, with both revenue and operating profit maintaining an 8%~9% growth rate. However, some potential issues have also been exposed. Specifically: 1. Nominal same-store growth appears stable, but customer traffic has significantly weakened: The most critical operating indicator, Costco's overall same-store sales growth rate for this quarter was 5.7%, unchanged from the previous quarter, seemingly still stable...
+14Below is the earnings call $Costco Wholesale(COST.US) Minutes for FY25Q3. For the earnings interpretation, please refer to "Trump's Tariff Frenzy, Costco 'Steady as a Rock'" I. Review of Key Earnings Information II. Detailed Content of the Earnings Call 2.1 Key Information from Management 1. Store Network Expansion: 9 new stores opened in Q3, with plans to open 10 more in Q4. The fiscal year is expected to see a total of 27 new stores (including 3 relocations), a net increase of 24, bringing the global total to 914 stores. 2. Hedging Tariff Impact: Despite macro challenges...
The global discount retail king—$Costco Wholesale(COST.US) released its fiscal year 2025 Q3 financial report after the US stock market closed on May 30, Beijing time. As usual, Costco's performance this quarter remained steady and uneventful. Specifically: 1. Same-store sales growth remains robust: Costco's overall same-store nominal sales growth for this quarter was 5.7%, significantly slowing down by 1.1 percentage points compared to the previous quarter. However, this was mainly dragged down by the impact of oil prices and exchange rates. Excluding these factors, the same-store growth rate still reached 7.9%, which is not bad...
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