Costco Q2 Earnings Highlights: Revenue & EPS Beat, Store Sales up 12.6 Percent and Early February Numbers

By Benzinga
Benzinga
Benzinga
March 6, 2022 Updated: March 6, 2022

Costco Wholesale Corp reported second-quarter financial results after market close Thursday. Here are the highlights.

What Happened

Costco reported second-quarter net sales of $50.9 billion, up 16.1 percent year-over-year. Total revenue of $51.9 billion in the quarter beat a consensus estimate of $51.4 billion, according to Benzinga Pro.

Second-quarter revenue included $967 million from membership fees.

Costco reported second-quarter earnings per share of $2.92, beating estimates of $2.73.

Adjusted same-store sales were up 12.6 percent in the quarter. The U.S. and Canada regions had same-store sales growth of 11.3 percent and 12.4 percent, respectively, outpacing a 9.0 percent increase for the international stores.

E-commerce same-store sales were up 12.6 percent.

What’s Next

Costco shared sales results for the month of February, which includes two weeks of the third quarter.

Net sales for the month of February were $16.3 billion, up 15.9 percent year-over-year. Same-store sales grew 12.9 percent in the United States, 8.8 percent in Canada, and 1.3 percent in international markets for the month.

Overall same-store sales were up 10.6 percent in the month of February.

By Chris Katje 

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