Costco Wholesale (COST) Earnings Date & Reports

Key Takeaways

• Costco Wholesale (COST) is scheduled to report its fiscal fourth-quarter 2026 results after the market closes on Thursday, September 24, 2026.
• Wall Street consensus points to earnings of roughly $6.54 per share on revenue of approximately $94.5 billion, implying double-digit growth from the year-ago quarter.
• In the year-ago Q4, Costco earned $5.87 per share on $86.16 billion in revenue, so analysts expect EPS (earnings per share) to rise about 11% and revenue about 10%.
• Investors will focus on comparable sales, membership fee income, renewal rates, and gross margins as the clearest signals of consumer demand.
• Costco's most recent quarter, Q3 2026, delivered a modest EPS miss ($4.93 versus a $4.94 consensus) but beat on revenue at $70.53 billion.

Earnings Context and Why It Matters

Costco operates on a fiscal year ending in late August, so this report is its fourth and final quarter of fiscal 2026 — a 16-week period rather than the standard 13 weeks. As one of the world's largest membership-based warehouse retailers, Costco serves as a widely watched barometer of U.S. household spending. Its results matter beyond the company itself, offering insight into consumer resilience, grocery pricing, and discretionary demand. Coming off a fiscal year marked by solid comparable-sales gains, investors will look to this report to confirm whether Costco's growth momentum held through the summer and into the back-to-school season.

Earnings Expectations

Analysts expect Costco to report earnings of about $6.54 per share for the fiscal fourth quarter, up from $5.87 per share a year earlier. Consensus revenue estimates center near $94.5 billion, compared with $86.16 billion in the prior-year period. These figures imply year-over-year growth of roughly 11% on the bottom line and roughly 10% on the top line.

Beyond headline numbers, investors will watch comparable sales (also called comp sales), which measure growth at warehouses open for at least a year and strip out fuel and foreign-exchange effects. Membership fee income, member renewal rates, and gross margin are equally important, since they reflect the durability of Costco's subscription model and its pricing power. In Q3 2026, Costco reported EPS of $4.93, narrowly missing the $4.94 consensus, while revenue of $70.53 billion came in ahead of expectations.

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Market Reaction and Investor Sentiment

Sentiment heading into the report is constructive but cautious. Costco has historically beaten consensus estimates in most recent quarters, and analysts have noted a generally positive bias in recent revenue revisions. At the same time, the stock trades at a premium valuation relative to the broader retail sector, which raises the bar for a meaningful post-earnings rally. Costco shares have pulled back from their highs and underperformed the wider market in recent months, suggesting investors have already tempered some expectations. Key risk factors include margin pressure, macroeconomic uncertainty, and any deceleration in comparable-sales growth relative to the prior quarter.

Forward Outlook and Key Factors to Monitor

Following this report, investors should watch several forward-looking signals. The most important is guidance, or management's commentary, on membership growth, renewal rates, and fee income, which form the foundation of Costco's profitability. Any update on comparable-sales trends for the early weeks of fiscal 2027 will also be closely read.

Margin trends deserve particular attention. If gross margins hold steady or improve, it would signal that Costco is managing product costs and supply-chain pressures effectively. If margins compress, investors may interpret it as a sign that Costco is prioritizing member value over near-term profitability.

Warehouse expansion and e-commerce growth are additional catalysts. Costco continues to open new locations domestically and internationally, and its digital business has been growing faster than its physical channel. Commentary on capital spending, new openings, and digital penetration will help frame the company's longer-term growth path.

Finally, broader consumer spending remains a key variable. Any shift in household purchasing behavior — whether toward or away from discretionary categories — will likely influence how the market interprets Costco's results in the quarters ahead.

Disclaimer

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