Costco Wholesale Corporation (COST)
Costco Wholesale Corporation (COST) Q3 2024 Earnings Call Transcript
Costco Wholesale Corporation (NASDAQ:COST ) Q3 2024 Earnings Call Transcript May 30, 2024 5:00 PM ET Company Participants Gary Millerchip - EVP & CFO Ron Vachris - CEO Conference Call Participants Simeon Gutman - Morgan Stanley Michael Lasser - UBS Chuck Grom - Gordon Haskett Scott Ciccarelli - Truist Securities Kelly Bania - BMO Capital Markets John Heinbockel - Guggenheim Securities Peter Benedict - Baird Brandon Cheatham - Citigroup Greg Melich - Evercore ISI Rupesh Parikh - Oppenheimer Christian Carlino - JPMorgan Scott Mushkin - R5 Capital Edward Kelly - Wells Fargo Oliver Chen - TD Cowen Joe Feldman - Telsey Advisory Group Operator Thank you for standing by. My name is Krista, and I will be your conference operator today.
Last Big Afternoon of Q1 Earnings Season
Ahead of tomorrow's PCE report, shares in the regular session sold off. Things changed after several companies reported late.
Here's What Key Metrics Tell Us About Costco (COST) Q3 Earnings
While the top- and bottom-line numbers for Costco (COST) give a sense of how the business performed in the quarter ended May 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Costco revenue beats estimates as cash-strapped consumers look for deals on groceries, discretionary items
Costco Wholesale's third quarter revenue figures topped analysts' expectations amid strong sales of groceries and discretionary items as cash-strapped consumers searched for deals.
Costco Delivers Earnings Beat as Digital Sales Jump 20%
Costco Wholesale (COST) reported fiscal third-quarter earnings after the bell Thursday that surpassed analyst expectations, with sales growing 9% year-over-year, driven by a 20.7% bump in online sales.
Costco says it's not ready to raise its membership fee — for now
Costco still won't raise its membership fee, saying it's still a matter of when, not if. The wholesale club last raised fees in 2017, and about every five years before that.
Costco beats profit and sales forecasts, but stock pulls back from record highs
Costco Wholesale Corp. reported fiscal third-quarter profit, revenue and same-store sales that all beat Wall Street forecasts, but shares of the membership-based warehouse retailer pulled back from a record high.
Costco beats quarterly revenue estimates on strong grocery demand
Costco Wholesale beat third-quarter revenue expectations on Thursday, as cash-strapped consumers flocked to its warehouses to grab low-priced groceries and discretionary items.
What You Need To Know Ahead of Costco's Earnings
UPDATE—May 30, 2024: This article has been updated to reflect more recent analyst estimates and share price information.
Up 23% Since Beginning Of This Year, Will Costco's Strong Run Continue Following Q3 Results?
Costco (NASDAQ: COST) is scheduled to report its fiscal third-quarter results on Thursday, May 30. We expect Costco stock to trade lower with revenues and earnings likely missing expectations. Costco's stock has rallied 23% since the beginning of this year, outperforming the S&P index which grew 11% during this period.
3 Sorry E-Commerce Stocks to Sell in May While You Still Can
For a moment between 2020 and 2022, it seemed as if e-commerce would become the future of how people shop and purchase their daily goods. From companies like Amazon (NASDAQ: AMZN ) to Costco Wholesale (NASDAQ: COST ), in-person shopping looked like a thing of the past.
Costco bucks trend: Surge in foot traffic despite tough economy
Even with the tough economic environment, Costco's traffic has continued to grow consistently on an annual basis. Analysts believe it's benefiting from its membership model.
