Costco exhibited strong overall performance with significant membership and e-commerce growth, as well as successful expansion of its warehouse network. However, challenges related to tariffs, LIFO charges, and renewal rate fluctuations present headwinds.

Company Guidance -

Q4 2025

In the third quarter of fiscal 2025, Costco Wholesale Corporation reported significant expansion and financial performance metrics. The company opened nine new warehouses, including a relocation in Melbourne, Australia, and plans to open ten more in the next quarter, aiming for a total of 914 worldwide by the end of the fiscal year. Net income rose to $1.9 billion, or $4.28 per diluted share, reflecting a 13% increase from $1.68 billion, or $3.78 per share, in the same quarter last year, despite a $130 million LIFO charge and $40 million in additional employee vacation accruals. Net sales grew by 8% to $61.96 billion, with U.S. comparable sales up 6.6% (7.9% excluding gas deflation), and e-commerce sales increased by 14.8% (15.7% adjusted for FX). Membership fee income rose 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 to 11.25%, driven by the fresh departments and lower commodity costs. Capital expenditures for the quarter were approximately $1.13 billion, with a full-year estimate of over $5 billion. The company also launched a buy now, pay later program with Affirm to enhance customer purchasing power for big-ticket items.

Warehouse Expansion

Opened nine new warehouses in Q3, including locations in Melbourne, Australia, and Japan. Plans to open 10 more in Q4, ending the year with 914 warehouses worldwide.

Record Membership Growth

Membership fee income grew by 10.4% year over year, reaching $1.24 billion. Total paid household members increased by 6.8% to 79.6 million.

Strong E-commerce Performance

E-commerce comp sales were up 14.8%, or 15.7% adjusted for FX, driven by investments in technology and personalized member experiences.

Kirkland Signature Growth

Sales of Kirkland Signature items outpaced overall sales growth, with KS sales penetration up approximately 50 basis points year over year.

Gasoline Sales Milestone

Achieved two of the all-time highest gallon weeks in the U.S. due to expanded gas station hours and lower prices.

Costco (COST) Earnings, Revenues Date & History

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COST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 25, 2025	2025 (Q4)	5.81 / -	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.