# Costco (COST) Q3 FY2026 earnings

Results filed 2026-05-28 for the quarter ended 2026-05-10. Source page: https://earnings.opennash.com/companies/cost/2026-q3/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/909832/000090983226000046/0000909832-26-000046-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Costco's third-quarter net sales increased 11.6 percent, to $69.15 billion, and net income was $2.19 billion, $4.93 per diluted share, compared to $1.90 billion, $4.28 per diluted share, last year.

Costco's twelve-week third quarter ended May 10, 2026 was strong. Net sales rose 11.6 percent to $69.15 billion, and total company comparable sales rose 9.8 percent. Excluding gasoline prices and currency, comparable sales rose 6.6 percent. Net income was $2.19 billion, or $4.93 per diluted share, up from $4.28 a year earlier. Membership fees rose to $1,373 million from $1,240 million, and e-commerce was a standout, with digitally-enabled comparable sales up 21.5 percent.
The documents give no sales or earnings guidance. Management expects to open 12 more warehouses in the rest of the fiscal year, ending at 940. Gross margin was 11.04%, down 21 bps from last year, and about flat once gasoline is excluded. SG&A as a share of sales rose 20 bps to 8.96%. Part of the sales growth came from higher gasoline prices and currency effects. Capital spending is also rising, with additions to property and equipment of $4,228 million over 36 weeks.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Net sales | $69.15 billion | up 11.6 percent from $61.96 billion last year | GAAP |
| Net income | $2.19 billion | compared to $1.90 billion last year | GAAP |
| Diluted EPS | $4.93 | compared to $4.28 last year | GAAP |
| Operating income (12 weeks, $ millions) | 2,815 | compared to 2,530 last year | GAAP |
| Gross margin | 11.04% | down 21 bps vs Q3 FY’25; up 1 bp excluding gas |  |
| Net cash provided by operating activities (36 weeks, $ millions) | 11,133 | compared to 9,468 for the first 36 weeks last year | GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| U.S. comparable sales | +9.4% | +6.8% adjusted |
| Canada comparable sales | +10.7% | +6.2% adjusted |
| Other International comparable sales | +11.2% | +5.9% adjusted |
| Digitally-enabled comparable sales | +21.5% | +20.8% adjusted |
| Worldwide membership renewal rate | 89.7% |  |
| Paid memberships | 82.9MM | +4.1% growth |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Estimated total warehouses at fiscal 2026 end | end of fiscal 2026 | 940 |

## Key takeaways

1. **Sales growth was strong and broad-based** Net sales increased 11.6 percent, to $69.15 billion. Total company comparable sales were 9.8%, and 6.6% adjusted for gasoline prices and foreign exchange.
2. **Digital sales grew far faster than the company** Digitally-enabled comparable sales were +21.5%, and e-commerce site and app traffic was +37%.
3. **Gross margin fell on reported basis** Gross margin was 11.04%, down 21 bps from Q3 FY’25, but +1 bps excluding the gas impact. SG&A was 8.96%, up 20 bps, or +2 bps excluding gas.
4. **Membership base and renewals remain healthy** Membership fees were $1,373 million versus $1,240 million a year ago. The worldwide renewal rate was 89.7% with 82.9MM paid memberships.

## Questions

**What were Costco's Q3 fiscal 2026 results?** Net sales increased 11.6 percent, to $69.15 billion, and net income was $2.19 billion, or $4.93 per diluted share, versus $4.28 a year ago. Total revenue including membership fees was $70,527 million.
**How strong were Costco's comparable sales?** Total company comparable sales rose 9.8%, or 6.6% excluding gasoline prices and foreign exchange. Digitally-enabled comparable sales rose 21.5%.
**How did Costco's margins change?** Gross margin was 11.04%, down 21 bps from a year ago but up 1 bp excluding gas. SG&A was 8.96%, up 20 bps, or up 2 bps excluding gas.
**How is Costco's membership business performing?** The worldwide renewal rate was 89.7%, with 82.9MM paid memberships, up 4.1%. Membership income growth was 10.7%, or 9.9% excluding foreign exchange.
**Did Costco give financial guidance, and what is its expansion plan?** The documents contain no sales or earnings guidance. Costco expects 12 more warehouse openings in the rest of the fiscal year, reaching an estimated 940 by fiscal 2026 end, up from 931 currently operating.