Costco Beat on Earnings. About $0.15 a Share of It Was a One-Time Tariff Refund.
Take the tariff refund out, and how strong was the warehouse club's quarter, really?
Overview
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.
Details
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.
Source
Originally published at www.fool.com.