Costco Wholesale (NASDAQ: COST) will release its fiscal 2024 third-quarter earnings report after the market closes on May 30. This will be the first earnings report under the leadership of the new CFO, Gary Millerchip. Millerchip took over from the outgoing former CFO, Richard Galanti, in March, having previously served as CFO at Kroger (NYSE: KR).

Analysts expect Costco's third-quarter revenue to increase by 7.9% year-over-year, reaching $57.89 billion, compared to $53.65 billion in the same period last year. Net income is projected to grow by 25%, reaching $1.63 billion, a significant increase from $1.3 billion in the same period last year.

Costco's membership program is a key revenue source. Analysts anticipate a slight increase in membership this quarter to 73.55 million, up from 73.4 million in the previous quarter and 69.1 million in the same period last year. The company's leadership has frequently mentioned that raising membership prices is a question of "when" rather than "if." Investors will be closely watching to see if the earnings report provides any additional details about potential membership price adjustments.

A few weeks ago, Costco entered into a new partnership with Uber Technologies (NYSE: UBER) to expand its market share. This partnership allows Uber Eats users, whether they are Costco members or not, to order Costco products through the app. This is the first time Costco has allowed non-members to shop via an external platform, marking a significant breakthrough for the company, which has traditionally been strict about membership shopping privileges. However, Costco members will still enjoy special discounts and receive a 20% discount on Uber One membership.

Following the release of its second-quarter results, Costco’s stock price fell nearly 10% within two days in early March due to sales growth falling short of expectations. Since then, the stock price has rebounded and reached a new high last week. As of the close on May 23, Costco's stock price had risen nearly 21% to $796.34, and it hit an all-time high of $808.05 during intraday trading on the same day.

Investors will closely monitor Costco's first earnings report under the new CFO, paying particular attention to any new information regarding membership price adjustments and the impact of the new partnership on sales growth. Costco's ability to continue delivering strong financial performance will be crucial for its future stock price trajectory.