Recap: Costco Wholesale Q3 Earnings

Shares of Costco Wholesale COST moved lower in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were up 45.50% over the past year to $2.75, which beat the estimate of $2.34.

Revenue of $45,277,000 declined by 99.88% from the same period last year, which missed the estimate of $43,640,000,000.

Guidance

Costco Wholesale hasn't issued any earnings guidance for the time being.

Costco Wholesale hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: May 27, 2021

Time: 07:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/3zbe3p4h

Technicals

Company's 52-week high was at $393.15

Company's 52-week low was at $293.84

Price action over last quarter: Up 22.08%

Company Overview

The leading warehouse club, Costco has 795 stores worldwide (at the end of fiscal 2020), with most sales derived in the United States (73%) and Canada (13%). It sells memberships that allow customers to shop in its warehouses, which feature low prices on a limited product assortment. Costco mainly caters to individual shoppers, but roughly 20% of paid members carry business memberships. Food and sundries accounted for 42% of fiscal 2020 sales, with hardlines 17%, ancillary businesses (such as fuel and pharmacy) nearly 17%, fresh food 14%, and softlines 10%. Costco's warehouses average around 146,000 square feet; over 75% of its locations offer fuel. About 6% of Costco's global sales come from e-commerce (excluding same-day grocery and various other services).