The earnings call reflects a strong performance in terms of sales, net income growth, and strategic expansion efforts. However, challenges such as tariff impacts, foreign exchange losses, and increased operational costs were noted. Despite these challenges, the company's overall growth trajectory and strategic initiatives are positive.

Company Guidance

During Costco Wholesale Corporation's third quarter 2025 conference call, the company provided significant guidance on its operational and financial performance metrics. Costco reported a net income of $1.9 billion, or $4.28 per diluted share, reflecting a 13% increase from the previous year. Net sales rose to $61.96 billion, up 8%, while U.S. comparable sales increased by 6.6%, or 7.9% when excluding gas deflation impacts. International comparable sales showed mixed results, with Canada up 2.9% but 7.8% adjusted for gas deflation and FX, and other international markets up 3.2% or 8.5% adjusted. E-commerce sales grew by 14.8%, or 15.7% adjusted for FX. The company opened nine new warehouses in the quarter and plans to open 27 for the fiscal year. Membership fee income increased by 10.4% to $1.24 billion, with renewal rates at 92.7% in the U.S. and Canada. Gross margin improved by 41 basis points year-over-year, with a reported rate of 11.25%, and SG&A expenses increased by 20 basis points to 9.16%. Costco's strategy includes expanding its global footprint, enhancing member value through price reductions and product sourcing adjustments, and investing in digital and technology improvements to boost the member experience.

Record Net Income Growth

Net income for the third quarter was $1.9 billion, or $4.28 per diluted share, up more than 13% from $1.68 billion or $3.78 per diluted share in the third quarter last year.

Significant Increase in Net Sales

Net sales for the third quarter were $61.96 billion, an increase of 8% from $57.39 billion in the third quarter last year.

Strong E-commerce Growth

E-commerce comparable sales were up 14.8% or 15.7% adjusted for FX.

Membership Fee Income Growth

Membership fee income was $1.24 billion, an increase of $117 million or 10.4% year over year, with a membership fee income growth of 11.4% excluding FX.

Expansion of Warehouse Locations

Opened nine new warehouses, including international locations, and planning to open 10 more in the next quarter.

Introduction of Buy Now, Pay Later Option

Launched a buy now, pay later offering through a partnership with Affirm, which has shown promising initial sales results.

Costco (COST) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

COST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 25, 2025	2025 (Q4)	5.82 / -	5.29	―	―	―
May 30, 2025	2025 (Q3)	4.24 / 4.28	3.71	15.36% (+0.57)
Mar 06, 2025	2025 (Q2)	4.09 / 4.02	3.71	8.36% (+0.31)
Dec 12, 2024	2025 (Q1)	3.79 / 4.04	3.58	12.85% (+0.46)
Sep 26, 2024	2024 (Q4)	5.08 / 5.29	4.86	8.85% (+0.43)
May 30, 2024	2024 (Q3)	- / -	3.3	―
Mar 07, 2024	2024 (Q2)	3.63 / 3.71	3.3	12.42% (+0.41)
Dec 14, 2023	2024 (Q1)	3.41 / 3.58	3.07	16.61% (+0.51)
Sep 26, 2023	2023 (Q4)	4.79 / 4.86	4.2	15.71% (+0.66)
May 25, 2023	2023 (Q3)	- / 2.93	2.92	0.34% (+0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

COST Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 30, 2025	$1038.74	$1055.39	+1.60%
Mar 06, 2025	$1023.86	$961.72	-6.07%
Dec 12, 2024	$984.65	$985.61	+0.10%
Sep 26, 2024	$896.84	$881.10	-1.76%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.