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Costco (COST) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Costco (COST - Free Report) reported $58.44 billion in revenue for the quarter ended February 2024, representing a year-over-year increase of 5.8%. EPS of $3.71 for the same period compares to $3.30 a year ago.
The reported revenue represents a surprise of -1.28% over the Zacks Consensus Estimate of $59.2 billion. With the consensus EPS estimate being $3.60, the EPS surprise was +3.06%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Costco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Number of warehouses - Total worldwide: 875 compared to the 855 average estimate based on eight analysts.
Comparable sales - Total Company: 5.6% compared to the 4.7% average estimate based on eight analysts.
Comparable warehouse sales-excluding the impact of changes in foreign-currency and gasoline -YoY change: 5.8% compared to the 5.1% average estimate based on five analysts.
Comparable sales - U.S. 4.3% versus 4.2% estimated by five analysts on average.
Number of warehouses - United States and Puerto Rico: 603 versus the five-analyst average estimate of 602.
Comparable sales - Other International: 8.6% compared to the 6.7% average estimate based on four analysts.
Comparable sales - Canada: 9.2% compared to the 6% average estimate based on three analysts.
Number of warehouses - Canada: 108 versus 108 estimated by three analysts on average.
Number of warehouses - China: 6 versus the two-analyst average estimate of 6.
Comparable warehouse sales-US-excluding the impact of changes in foreign-currency and gasoline -YoY change: 4.8% compared to the 4.2% average estimate based on two analysts.
Revenue- Membership fees: $1.11 billion versus the 10-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of +8.2%.
Revenue- Net sales: $57.33 billion versus $58.11 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
Shares of Costco have returned +7.4% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Costco (COST) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Costco (COST - Free Report) reported $58.44 billion in revenue for the quarter ended February 2024, representing a year-over-year increase of 5.8%. EPS of $3.71 for the same period compares to $3.30 a year ago.
The reported revenue represents a surprise of -1.28% over the Zacks Consensus Estimate of $59.2 billion. With the consensus EPS estimate being $3.60, the EPS surprise was +3.06%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Costco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Number of warehouses - Total worldwide: 875 compared to the 855 average estimate based on eight analysts.
- Comparable sales - Total Company: 5.6% compared to the 4.7% average estimate based on eight analysts.
- Comparable warehouse sales-excluding the impact of changes in foreign-currency and gasoline -YoY change: 5.8% compared to the 5.1% average estimate based on five analysts.
- Comparable sales - U.S. 4.3% versus 4.2% estimated by five analysts on average.
- Number of warehouses - United States and Puerto Rico: 603 versus the five-analyst average estimate of 602.
- Comparable sales - Other International: 8.6% compared to the 6.7% average estimate based on four analysts.
- Comparable sales - Canada: 9.2% compared to the 6% average estimate based on three analysts.
- Number of warehouses - Canada: 108 versus 108 estimated by three analysts on average.
- Number of warehouses - China: 6 versus the two-analyst average estimate of 6.
- Comparable warehouse sales-US-excluding the impact of changes in foreign-currency and gasoline -YoY change: 4.8% compared to the 4.2% average estimate based on two analysts.
- Revenue- Membership fees: $1.11 billion versus the 10-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of +8.2%.
- Revenue- Net sales: $57.33 billion versus $58.11 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
View all Key Company Metrics for Costco here>>>Shares of Costco have returned +7.4% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.