---
title: "Costco (COST) Doesn't Need a Blowout Q3. Steady Renewals May Be Enough"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287034427.md"
description: "Costco (COST) is expected to report Fiscal Q3 earnings on May 28. Analysts believe that a strong quarter isn't necessary to maintain investor confidence, as the company's membership-fee model shows resilience. Recent trends indicate that worldwide renewal rates may have stabilized, which could support steady earnings growth. Despite the stock's high valuation, the outlook remains positive."
datetime: "2026-05-20T08:43:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287034427.md)
  - [en](https://longbridge.com/en/news/287034427.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287034427.md)
---

# Costco (COST) Doesn't Need a Blowout Q3. Steady Renewals May Be Enough

Costco Wholesale (COST) is set to report Fiscal Q3 earnings after the closing bell on May 28, but I do not think the company needs a spectacular quarter to keep investors confident in the story. To be fair, while Costco shares have rebounded so far in 2026, the stock is once again trading at a very demanding valuation. However, I believe the current price-to-earnings multiple still appears supported by the resilience of the company's membership-fee model.

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That is why renewal trends matter so much this quarter. After a period of volatility, the last two quarters suggest worldwide renewal rates may have already stabilized. If that continues in Q3, I believe it would reinforce confidence in the membership-based warehouse club's ability to keep generating steady, high-quality earnings growth. That is why I remain bullish on COST despite the demanding valuation.

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