Costco‘s (NASDAQ: COST) fiscal first quarter adjusted earnings per share came in slightly below market expectations, while revenues saw a beat. In Q1, Costco’s total revenue increased 10% year-over-year (y-o-y) to around $35 billion, driven by growth in membership fees and a 9% increase in comparable sales. The retailer reported net diluted earnings of $1.73 per share, up 20% y-o-y. The results were driven by a tax benefit related to stock-based compensation and to the implementation of the tax regulation act. Also, the quarter included a charge for an adjustment to its estimate of breakage on rewards earned prior to the fiscal year 2019 for the Citi/Visa co-branded credit card program. On an adjusted basis, the company’s net EPS came in slightly below consensus estimates, which led the stock to trade down by over 5% on Friday morning.

Our $236 price estimate for Costco’s stock is slightly ahead of the current market price. We have created an interactive dashboard on What To Expect From Costco’s Fiscal Q2 Earnings, which outlines our forecasts for the company’s next quarter. You can change expected revenue, operating margin and net margin figures for Costco to gauge how it will impact expected EPS for the fiscal second quarter. We expect…