Costco releases earnings on Thurs. Will the stock stay above $1000 at Fri. close? Trading at $1028 now.
88% of users predicted YES — the community missed this one. 32 predictions cast.
Costco Wholesale shares fell 4.57 percent to close at $949.76 on May 29, 2026 — below the $1,000 threshold and the $1,028 level at the time the question was set — after the company reported fiscal third-quarter results that came in marginally below some earnings expectations. Adjusted earnings per share were $4.93, short of the $4.98 consensus estimate, even as net sales rose 11.6 percent to $69.2 billion and total revenues of $70.5 billion beat top-line forecasts.
The earnings shortfall was driven by margin compression: Costco's gross margin contracted from 11.25 percent a year earlier to 11.04 percent, with the company citing reduced margins on fresh food items — including beef and eggs — and higher transportation costs. Comparable sales grew 9.8 percent and digital sales increased more than 21 percent, indicating strong underlying demand.
Costco entered the session near all-time highs and carried a premium valuation that left limited room for any earnings shortfall. The combination of a thin EPS miss against the most demanding consensus estimates, visible gross margin contraction, and the stock's elevated starting price was sufficient to trigger a selloff below the psychologically significant $1,000 level.
The 88 percent of the community that expected the stock to hold above $1,000 got this outcome wrong.