Costco Wholesale Corporation · NASDAQ:COST
Costco Wholesale — Q2 2023 Earnings Presentation
19 slides from Costco Wholesale's earnings presentation, Mar 2, 2023
Slide 1: 2nd Quarter FY 2023
CosTco =——=WHOLESALE 24 Quarter FY 2023
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 e
Slide 3: Redding, CA (Relo)
Redding, CA (Relo)
Slide 4: Lake Stevens, WA
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Slide 5: Casuarina (S Perth), AU
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Slide 6: Queen Creek, AZ
Queen Creek, AZ
Slide 7: Costco Today
Costco Today Q2-end (February 12, 2023) • 3rd Largest Global retailer • 11th Largest in Fortune 500 • $222 Billion market cap
Slide 8: Costco Today
Costco Today Q2-end (February 12, 2023) • Sales $230.1B (LTM) • 124M Sq. Ft. (147K / whse.) • 304K employees worldwide
Slide 9: Costco Today: Warehouses Worldwide
Costco Today Q2-end (February 12, 2023) 848 Warehouses Worldwide 584 - U.S. 14 - Australia 107 - CN 4 - Spain 40 - Mexico 2 - France 31 - Japan 2 - China 29 - UK 1 - Iceland 18 - Korea 1 - New Zealand 14 - Taiwan 1 - Sweden
Slide 10: Costco Today: Members
Costco Today Members: • 68.1M households • 123.0M total cardholders • 92.6% renewal rate (U.S. & CN) • $4.3B in membership fees (LTM)
Slide 11: Fiscal Year (MM's)
Fiscal Year (MM’s) 2021 2022 Sales $192,052 $222,730 Gross Margin 11.13% 10.48% Membership 2.02% 1.90% SG&A 9.65% 8.88% Operating Inc. $6,708 $7,793 Net Income $5,007 $5,844 Diluted E.P.S. $11.27 $13.14
Slide 12: 2nd Quarter (MM's)
2 Quarter (MM’s) nd 2022 2023 Sales $50,937 $54,240 +6% Operating Income $1,812 $1,904 +5% Net Income $1,299 $1,466 +13% Diluted E.P.S. $2.92 $3.30 +13%
Slide 13: 2nd Quarter (MM's) comparable sales
2 Quarter (MM’s) nd US Canada INTL Total Comp Sales +5.7% +3.5% +3.8% +5.2% W/O Gas & FX +5.8% +9.6% +9.5% +6.8% Traffic +3.7% +7.9% +7.1% +5.0% Ticket* +1.9% -4.1% -3.1% +0.2% *Including the impacts from changes in gasoline prices and foreign exchange.
Slide 14: Financial Position (MM's)
Financial Position (MM’s) Q2, FY’23 Cash, Equiv, & STI $13,705 Property & Equipment (net) $25,724 L.T. Debt $6,582 Stockholders’ Equity $22,799
Slide 15: Dividends
Dividends • Initiated May 2004 at $0.40 • Currently at $3.60 annually • Compound Annual Growth Rate 13% • $1.6B Annually
Slide 16: Stock Repurchase & Capital Expenditure
Stock Repurchase & Capital Expenditure FY23 Q2 • $143M repurchased in Q2 • 293k shares repurchased • Capital Expenditure $900M in Q2
Slide 17: New Brands
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Slide 18: Slide 18
Slide 19: 2nd Quarter FY 2023
CosTco =——=WHOLESALE 24 Quarter FY 2023