Posted 3/9/2024, 2:48:15 PM
Costco Q2 Results Inline with Expectations; 2024 Growth Outlook Unchanged
- Costco's Q2 revenues were inline with analyst expectations, but EPS beat estimates by a modest amount
- Analysts have left 2024 revenue forecast of $254.5B (2.3% annual growth) and EPS forecast of $15.98 (4.3% growth) unchanged post Q2 results
- Analyst price target for Costco stock remains $738, showing confidence business is on track
- Costco expected to grow revenues at 4.6% annually through 2024, on par with 63 other industry peers growing at 4.5%
- Sentiment unchanged - analysts reconfirmed EPS estimates and believe business performing in line with expectations