Can Costco Keep Up After Q1?
Costco shares rose after it released mixed fiscal first-quarter financial results after the markets closed on Thursday.
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When Costco Wholesale Corp. (NASDAQ: COST | COST Price Prediction) released its fiscal first-quarter financial results after the markets closed on Thursday, the company said that it had $2.01 in earnings per share (EPS) and $34.63 billion in revenue. That compared with consensus estimates of $1.69 in EPS and $35.67 billion in revenue, as well as the $1.59 per share and $32.99 billion posted in the same period of last year.
In the most recent quarter, total company comparable sales, excluding foreign exchange and gasoline prices, increased 4.6%. This consisted of a 5.7% increase in comparable sales in the United States and a 4.8% increase in Canada’s comparable sales.
E-commerce comparable sales totaled 24.2% for the quarter, while adjusted comparable sales only increased by 21.6%.
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On the books, Costco cash, cash equivalents and short-term investments totaled $7.12 billion at the end of the quarter, up from $7.26 billion at the end of the previous fiscal year.
In the release management, commented:
February’s sales were negatively impacted approximately 1% by weather throughout the U.S. and Canada. In addition, Lunar New Year/Chinese New Year occurred eleven days earlier in February this year, negatively impacting February’s Other International sales by approximately 4.5% and Total Company sales by approximately 0.5%.
Shares of Costco closed Thursday at $216.79, in a 52-week range of $180.83 to $245.16. The consensus price target is $238.13. Following the announcement, the stock was up about 4% at $226.03 in early trading indications Friday.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
