Costco reported third quarter revenue of $95.72 billion, beating analyst estimates of $94.85 billion with 11.1% year-on-year growth, while adjusted EPS came in at $6.60 against estimates of $6.52. Same-store sales rose 9.4% year on year, up from 5.7% in the same quarter last year, and the company ended the quarter with 939 locations, up from 914 a year earlier. On the earnings call, CFO Gary Millerchip said executive member penetration and digital sign-ups drove higher renewal rates and spending per member, and that current membership growth rates are expected to persist, with international expansion as a possible catalyst. CEO Ron Vachris said gas, pharmacy, and travel led the way, all growing faster than the overall growth rate, and described ongoing expansion of the Kirkland Signature brand as a pricing lever against commodity inflation. Costco currently trades at $922.26, up from $897.41 just before the earnings, with a market capitalization of $409.1 billion.
Costco Wholesale CorpQ3 revenue of $95.72B and adjusted EPS of $6.60 both beat analyst estimates.
