EX-99.12costex9918-k92426.htmEX-99.1 Document
Exhibit 99.1
Press Release
COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR 2026 OPERATING RESULTS
ISSAQUAH, Wash., September 24, 2026 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year ended August 30, 2026.
Net sales for the quarter increased 11.2 percent, to $93.9 billion, from $84.4 billion last year. Net sales for the fiscal year increased 10.1 percent, to $297.2 billion, from $269.9 billion last year.
Comparable sales for the fourth quarter and fiscal year were as follows:
16 Weeks
16 Weeks
52 Weeks
52 Weeks
Adjusted*
Adjusted*
U.S.
10.7%
7.2%
8.2%
6.6%
Canada
5.0%
4.6%
7.8%
6.7%
Other International
7.0%
6.2%
9.8%
6.5%
Total Company
9.4%
6.7%
8.4%
6.6%
Digitally-Enabled
19.5%
19.8%
20.9%
20.7%
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the fourth quarter was $2.998 billion, $6.75 per diluted share, compared to $2.610 billion, $5.87 per diluted share, last year. This year's fourth quarter was positively impacted by a non-recurring benefit of $0.15 per diluted share from IEEPA tariff refunds received in the quarter, less partial reinvestment of those refunds in increased member values. Net income for the fiscal year was $9.226 billion, $20.76 per diluted share, compared to $8.099 billion, $18.21 per diluted share, last year.
Costco currently operates 939 warehouses, including 647 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia, and China.
A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, September 24, 2026, and will be available via a webcast on investor.costco.com (click “Events & Presentations”).
Press Release
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 expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements.
These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs and global conflicts), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, public-health related factors, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.
CONTACTS: Costco Wholesale Corporation
Josh Dahmen, 425/313-8254
Andrew Yoon, 425/313-6305
Bryan Starnes, 425/427-7403
COST-Earn
Press Release
COSTCO WHOLESALE CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data) (unaudited)
16 Weeks Ended
52 Weeks Ended
August 30,
2026
August 31,
2025
August 30,
2026
August 31,
2025
REVENUE
Net sales
$
93,873
$
84,432
$
297,247
$
269,912
Membership fees
1,850
1,724
5,907
5,323
Total revenue
95,723
86,156
303,154
275,235
OPERATING EXPENSES
Merchandise costs
83,531
75,037
264,279
239,886
Selling, general and administrative
8,391
7,778
27,190
24,966
Operating income
3,801
3,341
11,685
10,383
OTHER INCOME (EXPENSE)
Interest expense
(45)
(46)
(145)
(154)
Interest income and other, net
253
215
711
589
INCOME BEFORE INCOME TAXES
4,009
3,510
12,251
10,818
Provision for income taxes
1,011
900
3,025
2,719
NET INCOME
$
2,998
$
2,610
$
9,226
$
8,099
NET INCOME PER COMMON SHARE:
Basic
$
6.75
$
5.88
$
20.78
$
18.24
Diluted
$
6.75
$
5.87
$
20.76
$
18.21
Shares used in calculation (000's):
Basic
443,975
444,007
443,953
443,985
Diluted
444,364
444,706
444,427
444,803
Press Release
COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in millions, except par value and share data) (unaudited)
Subject to Reclassification
August 30,
2026
August 31,
2025
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$
20,207
$
14,161
Short-term investments
1,094
1,123
Receivables, net
3,959
3,203
Merchandise inventories
19,324
18,116
Other current assets
1,998
1,777
Total current assets
46,582
38,380
OTHER ASSETS
Property and equipment, net
35,633
31,909
Operating lease right-of-use assets
2,697
2,725
Other long-term assets
4,133
4,085
TOTAL ASSETS
$
89,045
$
77,099
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable
$
22,591
$
19,783
Accrued salaries and benefits
5,641
5,205
Accrued member rewards
3,037
2,677
Deferred membership fees
3,006
2,854
Current portion of long-term debt
2,248
75
Other current liabilities
7,429
6,514
Total current liabilities
43,952
37,108
OTHER LIABILITIES
Long-term debt, excluding current portion
3,914
5,713
Long-term operating lease liabilities
2,414
2,460
Other long-term liabilities
2,962
2,654
TOTAL LIABILITIES
53,242
47,935
COMMITMENTS AND CONTINGENCIES
EQUITY
Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding
—
—
Common stock $0.005 par value; 900,000,000 shares authorized; 443,266,000 and 443,237,000 shares issued and outstanding
2
2
Additional paid-in capital
8,830
8,282
Accumulated other comprehensive loss
(1,620)
(1,770)
Retained earnings
28,591
22,650
TOTAL EQUITY
35,803
29,164
TOTAL LIABILITIES AND EQUITY
$
89,045
$
77,099
Press Release
COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in millions) (unaudited)
Subject to Reclassification
52 Weeks Ended
August 30,
2026
August 31,
2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income
$
9,226
$
8,099
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
2,674
2,426
Non-cash lease expense
318
303
Stock-based compensation
924
860
Other non-cash operating activities, net
355
(117)
Changes in working capital
2,328
1,764
Net cash provided by operating activities
15,825
13,335
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property and equipment
(6,435)
(5,498)
Purchases of short-term investments
(788)
(1,028)
Maturities of short-term investments
811
1,141
Other investing activities, net
26
74
Net cash used in investing activities
(6,386)
(5,311)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments of short-term borrowings
(577)
(862)
Proceeds from short-term borrowings
553
816
Repayments of long-term debt
(69)
(103)
Proceeds from issuance of long-term debt
496
—
Tax withholdings on stock-based awards
(361)
(393)
Repurchases of common stock
(848)
(903)
Cash dividend payments
(2,458)
(2,183)
Financing lease payments and other financing activities, net
(91)
(147)
Net cash used in financing activities
(3,355)
(3,775)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
(38)
6
Net change in cash and cash equivalents
6,046
4,255
CASH AND CASH EQUIVALENTS BEGINNING OF YEAR
14,161
9,906
CASH AND CASH EQUIVALENTS END OF YEAR
$
20,207
$
14,161
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | — | — |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 0 | — | — |
| Recession recession, downturn, contraction, slowdown | 0 | — | — |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 2 | — | — |
| Buybacks share repurchase, buyback program | 0 | — | — |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Source: SEC EDGAR · public domain · Highlights by Palanor