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Costco Smashes Q2 Income Estimate, Falls Light on Revenue



Costco Wholesale (COST) posted much stronger than expected second-quarter earnings in Thursday, but lost the street cost estimates, although the same sales over the same period were solid.

Costco said earnings for the three months ending February 17 came in at $ 2.01 per share, up nearly 27% from the same period and well before the consensus forecast for $ 1.69 per share. Total corporate revenue, says Costco, rose 7.3% to $ 35.4 billion, but missed analysts' estimates of $ 35.65 billion. Costco also reported February sales of $ 10.72 billion, an increase of 5% from last year, or 4.6% in the same way, the company said.

The same store revenue for the quarter, excluding fuel and exchange rate movements, rose 6.7%, Costco said, firmly ahead of the 5.7% consensus estimate. Compared sales in the US jumped 7.2%, again at the 6.7% estimate.

The Costco shares were marked 4.25% higher in the after-trade after the earnings release, indicating a Friday price of $ 225.73 each, a move that would trim the six-month decline to around 7.2%.

Earlier this week, smaller competitor BJs Wholesale Club (BJ) showed stronger than expected fourth quarter earnings of 44 cents per share, an increase of 22.2% from the same period last year, although sales fell 3.9% to 3,442 billion dollars.


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