Key Moments
- Q4 earnings per share came in at $6.75, topping the $6.55 consensus estimate, on revenue of $95.7 billion versus $94.85 billion expected.
- Digitally-enabled sales grew 19.5% in the fourth quarter, or 19.8% on an adjusted basis, highlighting robust e-commerce momentum.
- Full-year fiscal 2026 net sales increased 10.1% to $297.2 billion, while net income rose to $9.226 billion, or $20.76 per diluted share.
Fourth-Quarter Performance Outpaces Expectations
Costco Wholesale Corporation (NASDAQ: COST) ended its 2026 fiscal year with results that surpassed Wall Street forecasts, posting stronger-than-expected revenue and profit in its fourth quarter.
Earnings per share for the quarter were $6.75, exceeding the consensus estimate of $6.55 by $0.20. Total revenue reached $95.7 billion, above analyst expectations of $94.85 billion.
Net sales for the 16-week fourth quarter climbed 11.2% to $93.9 billion, compared with $84.4 billion in the same period a year earlier. The company’s adjusted EPS of $6.75 reflected a non-recurring benefit of $0.15 per share tied to IEEPA tariff refunds received during the quarter, net of partial reinvestment of those refunds into enhanced member value offerings.
Following the earnings release, Costco shares advanced 0.3%. However, the stock later edged lower by 0.2% in premarket trading on Friday.
Comparable Sales and Regional Performance
Fourth-quarter comparable sales delivered solid gains across regions. On a reported basis, total company comparable sales increased 9.4%. Excluding the effects of fluctuations in gasoline prices and foreign exchange rates, comparable sales rose 6.7%, coming in ahead of the analyst estimate of 6.44%.
| Metric | Reported Comparable Sales Growth | Adjusted Comparable Sales Growth |
|---|---|---|
| Total Company | 9.4% | 6.7% |
| U.S. | 10.7% | 7.2% |
| Canada | 5.0% | 4.6% |
| Other International | 7.0% | 6.2% |
In the United States, comparable sales rose 10.7% on a reported basis and 7.2% when adjusted for gasoline and foreign exchange. Canada delivered a 5.0% reported increase and 4.6% on an adjusted basis. Other International markets posted 7.0% growth reported, or 6.2% when adjusted.
Digital and E-Commerce Momentum
Costco’s digitally-enabled business remained a key growth driver in the quarter. Digital sales advanced 19.5%, or 19.8% after excluding the impact of gasoline price and foreign exchange changes, underscoring strong performance in the company’s online and technology-supported channels.
Profitability and Full-Year Fiscal 2026 Results
Net income for the fourth quarter rose to $2.998 billion, up from $2.610 billion in the prior-year quarter.
For the full fiscal year ended August 30, 2026, net sales increased 10.1% to $297.2 billion, compared with $269.9 billion in the previous fiscal year. Net income for the year reached $9.226 billion, or $20.76 per diluted share, versus $8.099 billion, or $18.21 per diluted share, a year earlier.
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