March 2, 2023 – Costco Wholesale Corporation (Nasdaq: COST) today announced its operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2023, ended February 12, 2023.
Costco Wholesale Corporation (Nasdaq: COST) reported fiscal Q2 net income of $3.30 per diluted share,Analysts polled by Capital IQ forecast $3.23.
Revenue for the quarter ended Feb. 12 was $55.27 billion, Analysts surveyed by Capital IQ projected $54.68 billion.
Net income for the quarter was $1,466 million, $3.30 per diluted share. Last year’s second quarter net income was $1,299 million, $2.92 per diluted share. Net income for the first 24 weeks was $2.83 billion, or $6.37 per diluted share, compared to $2.62 billion, $5.90 per diluted share, last year.
Net sales for the quarter increased 6.5% percent, to $54.24 billion, from $50.94 billion last year. Net sales for the first 24 weeks increased 7.3% percent, to $107.68 billion, from $100.35 billion last year.
For the four-week reporting month of February, ended February 26, 2023, the Company reported net sales of $17.06 billion, an increase of 4.7 percent from $16.29 billion last year.
COSTCO WHOLESALE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Costco currently operates 848 warehouses, including 584 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in Korea, 14 in Taiwan, 14 in Australia, four in Spain, two each in France and China, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.