Costco (COST) Q4 FY2026: EPS $6.75 beat (incl. $0.15 IEEPA tariff-refund benefit), revenue $95.72B beat, comps +9.4%; membership fee growth slowed to 7.3%; stock flat after hours
What happened
Costco reported fiscal Q4 2026 results after the close on September 24 (the 16 weeks ended August 30, 2026): diluted EPS of $6.75, ahead of the ~$6.52 consensus, and total revenue of $95.72 billion, up 11.1% and ahead of the ~$94.8B consensus. However, $0.15 of the EPS figure was a non-recurring benefit from tariff refunds under the International Emergency Economic Powers Act — removing it leaves $6.60, only about $0.07 above consensus. Net sales rose 11.2% to $93.9B, membership fees rose 7.3% to $1.85B (notably slower than recent quarters), comparable sales rose 9.4% — or 6.7% excluding gasoline and currency — and digitally enabled comps jumped 19.5%. Shares traded roughly flat after hours.
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Start your free 14-day trialWho’s affected
- COST — shares traded essentially flat after hours as the headline beat was discounted: the $0.15 refund supplied most of the surprise, and the ~40x forward multiple left no room for a muted underlying beat. Broadline retail/consumer staples peers face the prospect that Costco's refund-funded price cuts intensify price competition if other big retailers pass refunds through to consumers.