Costco Wholesale Corporation (NASDAQ: COST) will be reporting fourth-quarter 2023 results today after the closing bell.
The warehouse chain is expected to report higher earnings and revenues for the August quarter. The report is expected at 4:15 p.m. ET. Market watchers project total revenues of $77.96 billion for the final months of the fiscal year, which represents an 8.1% year-over-year increase. In the retail month of August, the company generated $18.42 billion in revenues, up 5% from last year. It is estimated that Q4 earnings per share grew 14% from last year to $4.79.
Listen to Costco’s Q4 2023 earnings call live and read the real-time transcript
Costco reported mixed results for the third quarter when sales moved up 2% annually to $53.6 billion, while earnings decreased by 4% to $2.93 per share. Net income was $1.30 billion, compared to $1.35 billion in the prior-year quarter. Comparable sales growth decelerated to 0.3%, continuing the downtrend that started a few years ago.