Proactive Investors - Costco Wholesale Corporation (NASDAQ:COST, ETR:CTO) is expected to report increased revenue and profits over the year-ago quarter and an uptick in members when it reports its latest financial results.
The operator of a chain of membership warehouses will report its fiscal third quarter financial results after the stock market closes on Thursday, May 30, marking its first earning without longtime CFO Richard Galanti, who stepped down in March.
Wall Street analysts, on average, expect Costco to report Q3 revenue of $58.1 billion, up 8.3% from the year-ago quarter.
Earnings per share are also expected to rise almost 8% to $3.70.
Memberships, a key revenue stream for Costco, are expected to increase to 73.55 million from 73.4 million in the last quarter and 69.1 million a year ago.
Investors will be on the lookout for any update on membership pricing after then-CFO Galanti said during a post-earnings call in 2023 that they were “a question of when, not if.”
Since 2017, Costco’s Gold Star membership has been priced at $60 while the Executive Membership costs $120.
Costco shares closed at about $810 on Friday and have gained almost 25% so far in 2024.