2024-05-30 21:01:08 ET
Costco Wholesale Corporation (COST)
Q3 2024 Earnings Call Transcript
May 30, 2024 05:00 PM ET
Company Participants
Gary Millerchip - EVP & CFO
Ron Vachris - CEO
Conference Call Participants
Simeon Gutman - Morgan Stanley
Michael Lasser - UBS
Chuck Grom - Gordon Haskett
Scott Ciccarelli - Truist Securities
Kelly Bania - BMO Capital Markets
John Heinbockel - Guggenheim Securities
Peter Benedict - Baird
Brandon Cheatham - Citigroup
Greg Melich - Evercore ISI
Rupesh Parikh - Oppenheimer
Christian Carlino - JPMorgan
Scott Mushkin - R5 Capital
Edward Kelly - Wells Fargo
Oliver Chen - TD Cowen
Joe Feldman - Telsey Advisory Group
Presentation
Operator
Thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to the Costco Wholesale Corporation Third Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
I will now turn the conference over to Gary Millerchip, Executive Vice President and Chief Financial Officer. Gary, you may begin your conference.
Gary Millerchip
Good afternoon, everyone, and thank you for joining the call today. I'd like to start by saying how excited I am to be part of the Costco team, and it's a pleasure to be hosting my first Costco quarterly conference call. The whole Costco team has been incredibly welcoming. And as you might imagine, my first three months working alongside Richard have been a lot of fun.
It's also been great visiting warehouses and facilities to immerse myself in the Costco culture and experience firsthand how this is positioning the company for continued growth. Over recent months, I've spent time and met with many analysts and investors, several of whom I know through my prior role. And it's clear you value and appreciate the company's current approach to investor communications. While I can't promise to be able to match the humor that Richard Galanti has become famous for, I can promise the same level of open dialogue and transparency you've come to expect. Oh, and to clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe.
Before I talk about our results, I wanted to mention that Ron Vachris is also join today's call. Many of you have expressed interest in hearing from Ron, and so we thought it would be a good idea to have Ron join the discussion and he can also take a few questions. Ron, would you like to add anything before we talk about the quarter?
Ron Vachris
Thank you, Gary. And again, welcome to Costco. I'm very happy to report that the transition from Richard to Gary has gone very well and we're very excited to have Gary on board as part of Costco, and I look forward to working together on the growth opportunities ahead for our company....
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Costco Wholesale Corporation (COST) Q3 2024 Earnings Call Transcript