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May 07, 2023
Costco Q3 2023 Earnings Report
Costco's operating results increased in Q3 2023, with net sales rising by 1.9% and net income reaching $1.30 billion, despite a non-recurring charge.
Key Takeaways
Costco's Q3 2023 results showed a slight increase in net sales, reaching $52.60 billion, and a net income of $1.30 billion, or $2.93 per diluted share. These results were achieved despite facing a non-recurring charge of $298 million related to the discontinuation of charter shipping activities.
Net sales increased by 1.9% to $52.60 billion compared to $51.61 billion last year.
Net income was reported at $1.30 billion, or $2.93 per diluted share, including a non-recurring charge.
Comparable sales for the total company increased by 0.3%, or 3.5% excluding gas and FX impacts.
E-commerce sales decreased by 10.0%, or -9.0% excluding gas and FX impacts.
Costco
Costco
Forward Guidance
The press release contains forward-looking statements with risks and uncertainties that may cause actual results to differ materially. The company does not undertake to update these statements.
Challenges Ahead
- Domestic and international economic conditions, including exchange rates, inflation or deflation.
- The effects of competition and regulation, uncertainties in the financial markets.
- Consumer and small business spending patterns and debt levels.
- Breaches of security or privacy of member or business information.
- Conditions affecting the acquisition, development, ownership or use of real estate.