Costco Wholesale Corporation · NASDAQ:COST
Costco Wholesale — Q2 2024 Earnings Presentation
19 slides from Costco Wholesale's earnings presentation, Mar 7, 2024
Slide 1: 2nd Quarter FY 2024
CosTco 24 Quarter FY 2024
Slide 2: Forward-looking statements
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward- looking statements are statements that address activities, events, conditions or developments that the Company
Slide 3: Eau Claire, WI
Eau Claire, WI
Slide 4: Shenzhen, CHN
Shenzhen, CHN
Slide 5: Southfield, MI (Detroit) (Bus. Ctr)
Southfield, MI (Detroit) (Bus. Ctr)
Slide 6: Anchorage, AK (Bus. Ctr)
Anchorage, AK (Bus. Ctr)
Slide 7: Costco Today
Costco Today Q2-end (February 18, 2024) • 3 Largest Global retailer rd • 12th Largest in Fortune 500 • $321 Billion market cap
Slide 8: Costco Today
Costco Today Q2-end (February 18, 2024) • Sales $244B (LTM) • 128M Sq. Ft. (147K / whse.) • 316K employees worldwide
Slide 9: Costco Today: Warehouses Worldwide
Costco Today Q2-end (February 18, 2024) 874 Warehouses Worldwide 602 - U.S. 14 - Taiwan 108 - CN 6 - China 40 - Mexico 4 - Spain 33 - Japan 2 - France 29 - UK 1 - Iceland 18 - Korea 1 - New Zealand 15 - Australia 1 - Sweden
Slide 10: Costco Today: Members
Costco Today Members: • 73.4M households • 132M total cardholders • 92.9% renewal rate (U.S. & CN) • $4.7B in membership fees (LTM)
Slide 11: Fiscal Year (MM's)
Fiscal Year (MM’s) 2022 2023 Sales $222,730 $237,710 Gross Margin 10.48% 10.57% Membership 1.90% 1.93% SG&A 8.88% 9.08% Operating Inc. $7,793 $8,114 Net Income $5,844 $6,292 Diluted E.P.S. $13.14 $14.16
Slide 12: 2nd Quarter (MM's)
2 Quarter (MM’s) nd 2023 2024 Sales $54,239 $57,331 +6% Operating Income $1,903 $2,062 +8% Net Income $1,466 $1,743 +19% Diluted E.P.S. $3.30 $3.92 +19%
Slide 13: 2nd Quarter (MM's) comparable sales
2 Quarter (MM’s) nd US Canada INTL Total Comp Sales +4.3% +9.2% +8.6% +5.6% W/O Gas & FX +4.8% +9.0% +8.2% +5.8% Traffic +4.3% +8.2% +6.8% +5.3% Ticket* 0.0% +0.9% +1.7% +0.3% *Including the impacts from changes in gasoline prices and foreign exchange.
Slide 14: Financial Position (MM's)
Financial Position (MM’s) Q2, FY’24 Cash, Equiv, & STI $10,321 Property & Equipment (net) $27,601 L.T. Debt $6,945 Stockholders’ Equity $20,760
Slide 15: Dividends
Dividends • Initiated May 2004 at $0.40 • Currently at $4.08 annually • Compound Annual Growth Rate 13% • $1.8B Annually
Slide 16: Stock Repurchase & Capital Expenditure
Stock Repurchase & Capital Expenditure FY24 Q2 • $159M repurchased in Q2 • 240k shares repurchased • Capital Expenditure $1.03B in Q2
Slide 17: New Brands
New Brands ‘an UBL | NATIVE t\solostove ~ [Al Travelproe BRANDS FLEXSTEEL: PRIME Dee +> TRADING BEAST. purple CONVERSE fae
Slide 18: Slide 18
Slide 19: 2nd Quarter FY 2024
CosTco 2°4 Quarter FY 2024