Costco is seeing significant profit increases, but is missing these metrics

Costco shares fell in late trading after reporting mixed results for its Q4 report after the closing bell on Thursday.

Costco wholesale (COST) reported earnings of $5.29 per share, beating FactSet estimates of $5.08 per share. The company reported fourth-quarter 2023 earnings of $4.86 per share. Revenue rose 1% to $79.69 billion, falling short of expectations of $79.91 billion.

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Membership fee revenue rose slightly to $1.51 billion, compared to analysts' expectations of $1.55 billion. Overall, comparable sales rose 5.4% in the quarter, just below forecasts for 5.7% growth. In the US, same-store sales rose 5.3%.

Costco operated 891 warehouses at the end of the quarter, up from 878 at the end of the third quarter. The number of locations in the USA increased by nine to 614.

Costco stock

COST shares fell slightly in late trading. Shares fell 0.8% to 901.44 in Thursday's regular session.

The stock is trading at a buy zone low on a seven-week cup basis. Costco broke out above the 896.67 buy point on August 27th.

COST stock is not far from its record high of 923.83 set on September 13th.

Costco was up more than 36% this year through Thursday's close.

For more stock news and updates, you can follow Harrison Miller on X/Twitter @IBD_Harrison

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