Costco (NASDAQ:COST) Q1 Earnings Preview: This is What to Anticipate

Costco Wholesale Company (NASDAQ:COST) is scheduled to launch its first-quarter Fiscal 2023 outcomes on December 8, after the market closes. The American membership-only warehouse membership provides groceries, home equipment, toys, {hardware}, attire, and different gadgets.

The Road expects Costco to publish diluted earnings of $3.12 per share in Q1, almost 5% greater than the prior-year interval determine of $2.97. In the meantime, income is pegged at $58.4 billion, representing year-over-year progress of 16%.

Costco’s November Gross sales Up Y/Y, However Missed Consensus

For November, Costco reported web gross sales of $19.17 billion, up 5.7% from the final yr. Equally, comparable gross sales for the month jumped 6%, with e-commerce falling 10.1%. Additional, Costco posted web gross sales of $53.44 billion for the quarter ending November 20, 2022. The determine is up 8.1% year-over-year. Comparable gross sales for the quarter grew by 9.3%.

The quarterly determine is beneath analysts’ expectations of $58.4 billion. Decrease gasoline costs and persistently excessive inflation are prone to have impacted gross sales in Q1.

Is COST a Purchase Inventory?

Wall Road is very optimistic about Costco inventory. It has a Robust Purchase consensus score based mostly on 14 Buys and 4 Holds. The common inventory worth goal of $551.65 implies 14.7% upside potential. COST inventory is down 14.5% thus far this yr.