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Sep 01, 2024
Costco Q4 2024 Earnings Report
Costco's Q4 2024 results were announced, revealing a slight increase in net sales and a rise in net income per share.
Key Takeaways
Costco Wholesale Corporation reported its Q4 2024 operating results, with net sales increasing to $78.2 billion. Net income rose to $2.354 billion, resulting in diluted earnings per share of $5.29. The results included a net non-recurring tax benefit of $63 million, or $0.14 per diluted share.
Net sales for the fourth quarter increased by 1.0% to $78.2 billion compared to the previous year.
Net income for the quarter was $2.354 billion, or $5.29 per diluted share, compared to $2.160 billion, or $4.86 per diluted share, in the prior year.
Comparable sales for the total company increased by 6.9%, excluding impacts from changes in gasoline prices and foreign exchange.
E-commerce comparable sales growth was 18.9%, or 19.5% excluding impacts from changes in gasoline prices and foreign exchange.
Costco
Costco
Forward Guidance
The press release contains forward-looking statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. These statements involve risks and uncertainties.
Positive Outlook
- The Company expects or anticipates activities, events, conditions or developments may occur in the future.
- Forward-looking statements can be identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions.
- Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information.
- The Company's reports filed with the Securities and Exchange Commission identify risks.
- A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, September 26, 2024, and will be available via a webcast.
Challenges Ahead
- Forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements.
- Risks include domestic and international economic conditions, including exchange rates, inflation or deflation.
- Other risks include the effects of competition and regulation, uncertainties in the financial markets, and consumer and small business spending patterns and debt levels.
- Breaches of security or privacy of member or business information are a risk.
- The company does not undertake to update these statements, except as required by law.