Costco Wholesale Corporation Earnings Recaps
Q4 2026
Sep 29, 2026
Costco’s shares rose 2.9% after earnings, a broadly neutral market reaction. The call highlighted more than 10% fiscal-year sales growth and plans to accelerate openings, alongside ongoing reinvestment of tariff refunds in lower prices.
Key takeaways
- Costco opened 28 warehouses in fiscal 2026, including three relocations, for 25 net new buildings; it plans 33 openings in fiscal 2027, including five relocations.
- Digitally enabled sales, including third-party delivery, exceeded $33 billion, up more than 20%; the company said sales through delivery marketplaces have been mostly incremental, with limited impact on core warehouse grocery.
- Pharmacy sales grew nearly 20%, with double-digit script growth more than offsetting lower prices tied to Medicare Maximum Fair Price changes.
- Executive-member penetration reached an all-time high, and renewal rates improved again in the quarter.
- Costco received initial tariff refunds in the fourth quarter and said it reinvested some of them in price reductions across food and nonfood items.
Q3 2026
May 30, 2026
Costco's shares fell 4.7% after the quarter as investors reacted negatively to a guidance reduction and deceleration in warehouse openings, signaling caution on growth momentum despite solid top-line and profit gains.
Key takeaways
- Net income rose 15% year-over-year to $2.192 billion ($4.93 per share), supported by an 11.6% increase in net sales to $69.15 billion.
- Comparable sales growth was 9.8%, or 6.6% excluding gas price inflation and foreign exchange effects, reflecting underlying sales strength.
- Digital sales showed significant acceleration with digitally enabled comparable sales up 21.5%, underscoring ongoing e-commerce traction.
- The company lowered its warehouse opening target for fiscal 2026 to 26 net new stores, down two from prior guidance, postponing openings into fiscal 2027.
- Despite record gas volume driven by supply disruptions and price sensitivity, management flagged macro uncertainties and tariff impacts, contributing to a more cautious outlook.
Q2 2026
Mar 6, 2026
Costco Wholesale Corporation reported strong financial performance for the second quarter of fiscal 2026, achieving a nearly 14% increase in net income year-over-year and a robust 9.1% growth in net sales.
Key takeaways
- Net income reached $2.035 billion, or $4.58 per diluted share, up from $1.788 billion in the prior year.
- Total net sales were $68.24 billion, fueled by a 7.4% increase in comparable sales, which rose to 22.6% for digitally-enabled sales.
- Membership fee income climbed to $1.355 billion, marking a 13.6% increase due to both base growth and a fee adjustment.
- The company opened 4 new warehouses, raising the total to 924 and targeting 30+ openings annually in the coming years.
- Positive operational enhancements include improved checkout speed and member engagement through digital personalization.