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May 29, 2026 12:40 PM

Costco Beats Across The Board, But Shares Fall On Soft Market Reaction

Shares of Costco Wholesale Corp (NASDAQ:COST) tanked in early trading on Friday, after the company on Thursday reported its fiscal third-quarter results.

The Issaquah, Washington-based company reported strong sales and earnings growth, with its performance being broadly consistent across geographies, according to BTIG analyst Robert Drbul.

The Costco Wholesale Analyst: Drbul reiterated a Buy rating and price target of $1,125.

The Costco Wholesale Thesis: The bulk retailer’s net sales grew 11.6% year-on-year to $69.2 billion, while adjusted earnings rose around 15% to $4.93 per share, beating BTIG's estimate of $4.86 per share, Drbul said in the note.

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Comparable sales grew 9.8%, or 6.6% ex-gas and ex-FX, with traffic rising 2.4% and ticket up 7.3%, he added.

"From a regional and category perspective, adjusted comps were broadly consistent across geographies with the ...