Costco Wholesale (COST) Fiscal 4Q17 Results: Beats on the Top and Bottom Lines

Executive Summary

• Costco reported fiscal 4Q17 EPS of $2.08, up 17.9% from the year-ago quarter and beating the consensus estimate of $2.02. Revenues were $42.3 billion, up 15.7% year over year and beating the consensus estimate of $41.63 billion.
• Comps increased by 5.7% year over year (excluding gasoline and foreign currency effects) and e-commerce’s share of sales (which was reported for the first time) was 21%.
• For FY18, consensus estimates call for revenues of $135.60 billion (up 2.1%) and EPS of $6.44 (up 6.0%).