Costco (NASDAQ: COST) enters earnings day trading just above $1,000 per share, setting the stage for heightened speculation that the company could announce its first stock split since the year 2000. The question has gained momentum not just due to the stock’s elevated price, but also because CFO Richard Galanti confirmed in recent commentary that the company has “done them before and continues to evaluate” the idea with the Board. However, he also noted that “there is no plan at this time,” suggesting optionality rather than commitment.
The market’s interest in a split comes amid a strong run for Costco shares. The stock is up roughly 10% year-to-date and has maintained a steady uptrend thanks to consistent operational execution and reliable earnings delivery. In the company’s fiscal Q2 2025 report, total revenue rose to $58.44 billion, up from $55.27 billion the prior year. Membership fee revenue, which is one of Costco’s most stable profit drivers, increased from $1.027 billion to $1.112 billion, underscoring continued renewal strength
Margins and cost controls remain key to the story as well. Last quarter, the gross margin expanded slightly to 11.13%, and operating income hit $2.13 billion, up from $1.84 billion. Earnings per share rose to $3.92, compared to $3.30 a year ago.
With steady comp performance and new warehouse openings already confirmed in the company’s guidance, tonight’s earnings release may not need fireworks — but a signal on the split question could drive a notable reaction either way.
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