Costco Beat on Earnings. About $0.15 a Share of It Was a One-Time Tariff Refund.
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Costco Wholesale (NASDAQ:COST) posted its fiscal fourth-quarter results after the closing bell on Thursday, and at first glance they looked great. Earnings per share rose 15% year over year to $6.75, and total revenue climbed 11% to $95.7 billion. Both numbers beat what analysts expected. But one line in the earnings release is worth a closer look. The quarter had a non-recurring boost of $0.15 per diluted share from tariff refunds -- money Costco got back after the Supreme Court ruled in February that President Donald Trump's emergency tariffs were illegal. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » This benefit was around 2% of the quarter's earnings per share -- small, but not nothing for a stock trading at over 40 times earnings. Image source: Getty Images. Take the $0.15 out, and earnings per share are $6.60 for the fiscal fourth quarter (the 16 weeks ended Aug. 30, 2026). That's still up around 12% from $5.87 in the year-ago quarter, and net income excluding the benefit rose by a similar 12.3%. The adjusted number also still came in just over analysts' consensus estimate, so the beat stands. But I'd say Costco's own recent pace is the better...
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