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Costco Reports on Q1 of FY 2022

 12/09/2021

In a press release dated December 9th Costco Wholesale Corporation (COST) announced results for the 1st Quarter of FY 2022 ending November 21st 2021.

 

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS)

1st Quarter Ending

Nov. 21st 2022

Nov. 22nd 2021

Difference (%)

Sales and membership fees:

$50,563,000

$43,208,000

+17.0

Gross profit:

$6,411,000

$5,750,000

+11.5

Operating income:

$1,693,000

$1,430,000

+18.4

Pre-tax Income

Net Income

$1,696,000

1$1,324,000

$1,420,000

$1,166,000

+19.4

+13.6

Diluted earnings per share:

$2.98

$2.62

+13.7

Gross Margin (%)

12.6

13.3

-5.3

Operating Margin (%)

3.3

3.3

0

Profit Margin (%)

2.6

2.7

-3.7

Long-term Debt and lease obligations:

$11,807,000

$11,749,000

+0.5

12 Months Trailing:

 

 

 

Return on Assets (%)

7.9

 

 

Return on Equity (%)

27.6

 

 

Operating Margin (%)

3.7

 

 

Profit Margin (%)

2.6

 

 

Total Assets

$64,149,000

$59,268,000

+8.2

Intraday Market Capitalization

$235,580,000

 

 

1. Includes tax benefit of $91 million

 

52-Week Range in Share Price: $307.00 to $560.00, 50-day Moving average $496.15

Market Close Thursday pre-release $524.33. After-hours post-release $530.25 (up 1.1%)

Forward P/E 44.1 Beta 0.6

 

Comparative same store sales growth: (excluding fuel and Forex):

Company +9.8%; U.S. +9.9%; Canada +8.3%; Other International +10.9%.

E-commerce +13.3%

 
Projection of COST share price

Costco currently operates 828 warehouses, including 572 in the United States and Puerto Rico, 105 in Canada, 40 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 in Australia, four in Spain, two each in France and China, and one in Iceland. Costco also operates E-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.