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Costco fiscal Q4 GAAP EPS misses expectations

Costco Wholesale Corp.'s fiscal fourth-quarter diluted EPS narrowly missed Street expectations Oct. 4 as the company's GAAP net income matched analyst expectations.

Diluted EPS for the quarter ended Sept. 2 totaled $2.36, missing the mean consensus estimate for GAAP EPS of $2.37 compiled by S&P Global Market Intelligence.

Net income attributable to Costco for the quarter was $1.04 billion, matching the mean consensus estimate for GAAP net income compiled by S&P Global Market Intelligence and above the $919 million the warehouse retailer reported for the year-ago quarter.

Shares of the retailer fell 3.4% to $223.90 in after-hours trading. Costco reported results after U.S. markets closed Oct. 4.

Same-store sales rose 9.5% across Costco's entire business, beating the consensus estimate of 8% growth compiled by S&P Global Market Intelligence. Factoring out the effects of foreign exchange and fuel prices, same-store sales advanced 7.2%.

Net sales at the retailer were $43.41 billion for the quarter, 5% above what the Issaquah, Wash.-based company reported for the same period one year ago. Net sales exclude revenue from Costco's annual membership fees.

Costco also reported results for its full 2018 fiscal year. Diluted EPS for the year totaled $7.09, above the S&P Global Market Intelligence consensus estimate for GAAP EPS of $7.08.

Net sales for the year were $138.43 billion, up 9.7% from Costco's 2017 total.