Costco Wholesale reports fiscal fourth-quarter results after the market close on Thursday, September 24, 2026. Analysts expect revenue near $94.6 billion and adjusted EPS around $6.55, numbers that would mark a double-digit step up from the prior quarter and keep the warehouse club on pace for another record fiscal year.
The setup
Costco’s fiscal year ends in late summer, so the Q4 print is the annual report card. The Street consensus, tracked by Benzinga and MarketBeat, puts quarterly revenue at roughly $94.58 billion and EPS at $6.55. TipRanks reports analysts expect revenue up about 10 percent year over year, with adjusted EPS up 12 percent.
In the most recently reported quarter, Costco posted EPS of $4.93 against a $4.92 estimate, with revenue of $70.53 billion. The company has beaten EPS estimates in five consecutive quarters. A steady beat cadence builds expectations, and expectations are what move stocks.
Key numbers
| Metric | Fiscal Q3 2026 | Q4 consensus |
|---|---|---|
| Revenue | $70.53B | $94.58B |
| Adjusted EPS | $4.93 | $6.55 |
| EPS vs estimate | +$0.01 beat | — |
| Revenue vs estimate | +$1.05B beat | — |
| Consecutive EPS beats | 5 quarters | — |
What to watch
Membership fee income is Costco’s profit engine. The company earns most of its operating income from fees rather than merchandise margins, so renewal rates near 90 percent in the U.S. and Canada are the number that matters most to long-term shareholders.
Watch two more items. Gross margin commentary will show whether the higher-cost environment dented merchandise profitability. And e-commerce growth, which has run at double digits, signals whether the digital business scales without breaking the warehouse economics.
Analyst outlook for Costco
Analysts tracked by TipRanks maintain a Moderate Buy consensus on COST, with an average price target near $1,085 implying about 22 percent upside. Most remain bullish but have flagged rising business costs as the main risk to margins.
The consensus view among surveyed firms suggests steady comparable-store growth with membership as the anchor. If renewal rates hold near 90 percent, the earnings base compounds regardless of what tariffs do to merchandise costs.
Common mistakes income investors make
First, do not treat the quarter as a verdict on the next decade. Costco compounds quietly, and single-quarter noise in merchandise margins rarely changes the thesis.
Second, do not anchor on the headline EPS beat or miss by a penny. The five-quarter beat streak means the market prices in precision. Watch membership counts and store traffic instead.
Dollar-impact example for shareholders
Costco’s dividend yield sits near 1 percent, and that is by design. The company prioritizes membership income and share repurchases. A retiree holding $50,000 in COST earns roughly $500 in annual dividend income at current payout levels. The income story is not the yield. It is the durability of the business and the slow upward drift in the payout over time.
Bottom line
Costco is scheduled to report on September 24 after the close. Expect revenue near $94.6 billion and EPS around $6.55. For conservative investors, the thesis has not changed. Membership income anchors the model, renewal rates near 90 percent keep it anchored, and the September 24 print will confirm whether that held for another year.
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