Costco stock slid Friday after posting mixed results for its Q4 report after Thursday's closing bell.
Costco Wholesale reported earnings of $5.29 per share to beat FactSet estimates of $5.08 per share. The company reported earnings of $4.86 per share for Q4 2023. Revenue increased 1% to $79.69 billion, shy of views for $79.91 billion.
Membership fee revenue ticked up slightly to $1.51 billion, while analysts expected $1.55 billion. Overall comparable sales rose 5.4% for the quarter, just below forecasts for 5.7% growth. U.S. same-store sales rose 5.3%.
Costco opened 14 new warehouses during the quarter, including 10 in the U.S.
During the earnings call, CFO Gary Millerchip said the majority of the benefit from the Sept. 1 membership fee increase will come in the back half of 2025 and into 2026. Millerchip added that the cadence of 2025 earnings growth is "likely to be less linear" than analysts would typically expect.
Costco Stock
COST stock fell 1.8% Friday. Shares eased 0.8% to 901.44 in Thursday's regular session.
The stock is trading below a buy zone for a seven-week cup base. Costco broke out above the 896.67 buy point on Aug. 27.
COST stock isn't too far off its record high of 923.83 from Sept. 13.
Costco rallied more than 34% this year.
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