Costco Wholesale Corporation's COST fourth-quarter fiscal 2026 results highlighted how the recovery of International Emergency Economic Powers Act ("IEEPA") tariffs could influence its earnings profile in fiscal 2027. In the fourth quarter of fiscal 2026, the company received $184 million related to IEEPA tariffs, comprising $174 million of refunds and $10 million of interest. Management said this represented a little more than one-third of the total refunds expected. Costco had already received a similar amount in the first quarter of fiscal 2027. The earnings impact, however, will depend on how much of these proceeds Costco retains versus reinvests.
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