Costco Wholesale Corp (COST) turned in another strong performance Thursday, reporting first-quarter results for fiscal 2026 that had Wall Street nodding approvingly—at least mostly.

The Numbers That Matter: The warehouse retail giant posted revenue of $67.31 billion, edging past analyst expectations of $67.14 billion. Earnings came in even more impressive at $4.50 per share on an adjusted basis, beating the consensus estimate of $4.27 per share.

Net sales climbed 8.2% year-over-year, while total comparable sales increased 6.4%. Breaking down that comp sales growth by geography: U.S. locations saw a 5.9% bump, Canadian stores gained 6.5%, and other international markets delivered the strongest performance at 8.8%.

The membership model continues printing money. Membership fees hit approximately $1.33 billion for the quarter, up notably from $1.17 billion in the same period last year. That's the beauty of the Costco business model—customers literally pay for the privilege of shopping there.

Costco now operates 923 warehouses worldwide, including 633 scattered across the United States. The company ended the quarter sitting on roughly $16.22 billion in cash and cash equivalents, giving it plenty of flexibility for whatever comes next.

Market Reaction: Despite the beat, Costco shares dipped 0.18% in after-hours trading to $883.22 at publication time Thursday.