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Costco Reports 1st Quarter 38% Earnings Increase And A Strong Outlook

December 11, 2020

Via: Forbes
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Costco just reported first quarter earnings for the 12 weeks ending November 22, 2020. Total company sales increased +15.4%, with the U.S. reporting +14.6%, Canada +16.2%, and other international markets reporting +18.7%. Net income was $1,166 Million compared to $844 Million last year. Fully diluted earnings per share were $2.62 versus last year’s $1.90 per share. That is a +38% increase!

The company indicated that the quarter included a tax benefit of $145 Million, or $0.33 per diluted share; $0.16 of which was due to the deductibility of a $10 per share special cash dividend received by the company’s 401(K) plan participants, and $0.17 cents related to stock-based compensation.

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