Costco Q2 2023 earnings preview: All eyes on margins and guidance ahead
Mario Tama/Getty Images News

Costco (COST) is scheduled to announce Q2 earnings results on Thursday, March 2nd, after market close.
The consensus EPS Estimate is $3.20 (+9.6% Y/Y) and the consensus Revenue Estimate is $55.61B (+7.1% Y/Y).
Over the last 3 months, EPS estimates have seen 5 upward revisions and 9 downward. Revenue estimates have seen 2 upward revisions and 16 downward.
Investors will be eyeing Costco's near-term guidance, especially after Walmart (WMT) set cautious guidance for the year ahead.
Gabelli Funds holds a positive view for Costco Wholesale, noting its "relative advantage in a recessionary environment is compelling".
The consumer staples sector was a clear winner compared to major indexes in 2022, but weighing inflation pressures, elevated interest rates and a pullback on consumer discretionary spending will be in the mix for 2023 according to UBS. The year ahead is also expected to see a sharper focus on balance sheets from investors.
Ahead of Costco's (COST) Q2 results, The Value Pendulum highlighted the company's monthly sales data as a key indicator of its performance. Costco reported December sales of $23.80 billion, up 7% from last year.
Costco (NASDAQ:COST) last posted a slight miss with its Q3 comparable sales tally, although Cowen at the time said the retailer is "well-positioned in an inflationary environment and could also benefit from increased trade down traffic as higher income consumers shop for quality value".
Over the last 2 years, COST has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.