Costco Q1 Earnings Performance: Revenue And EPS Beat, Comps Up 3.1%, Special Cash Dividend And More
Portfolio Pulse from Adam Eckert
Costco Wholesale Corp (NASDAQ:COST) reported a strong fiscal first-quarter performance with a 6.1% increase in net sales year-over-year and revenue of $57.8 billion, surpassing the consensus estimate of $57.72 billion. Adjusted earnings were $3.48 per share, beating estimates of $3.42 per share. Comparable sales were up across all regions, with e-commerce sales rising 6.1%. Membership fees increased to $1.082 billion, and the company expanded to 871 warehouses. Additionally, Costco announced a special cash dividend of $15 per share. After the earnings release, Costco shares were up 1.14% after hours.
December 14, 2023 | 9:34 pm
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Costco's Q1 earnings exceeded expectations with higher revenue and EPS, increased comparable sales, and a special dividend announcement. The company's expansion to 871 warehouses indicates growth, and the stock rose 1.14% after hours.
Costco's positive earnings report, which beat consensus estimates, typically leads to a favorable short-term impact on the stock price. The announcement of a special dividend is likely to attract investor interest and could provide additional upward momentum. The after-hours stock price increase reflects immediate market reaction, suggesting a positive short-term outlook.
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