Costco Wholesale
Q3 2022 Earnings Call
May 26, 2022, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and thank you for standing by. Welcome to the Costco Wholesale Corporation third quarter earnings conference call. [Operator instructions] Please be advised that today's conference is being recorded. [Operator instructions] I would now like to hand the conference over to your speaker for today.
Thank you. Please go ahead.
Bob Nelson -- Senior Vice President, Finance and Investor Relations
Thank you, Erica, and good afternoon to everyone. This is Bob Nelson, senior VP of finance and investor relations here at Costco. Thank you for dialing in into today's conference call to review our third quarter fiscal year '22 operating results. Before we begin, a couple of housekeeping items to take care of.
First, as you now have surmised, Richard is not with us today. He is doing great and wishes he could be on the call. He is in Italy with his family on a rescheduled vacation that was canceled early in the pandemic. He wanted me to pass along his best to everyone.
And in his absence, I will be filling in for him today. Secondly, and before we get into the details of today's earnings results, I need to read our safe harbor disclosure. Let's begin. These discussions will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements involve risks and uncertainties that may cause actual events, results, and our performance to differ materially from those indicated by such statements. The risks and uncertainties include, but are not limited to, those outlined in today's call, as well as other risks identified from time to time in the company's public statements and reports filed with the SEC. Forward-looking statements speak only as of the date they are made, and the company does not undertake to update these statements, except as required by law. OK.
With that out of the way, let's get to it. In today's press release, we reported operating results for the third quarter of fiscal '22, the 12 weeks ended this past May 8. Net income for the quarter was $1.353 billion, $3.04 per diluted share. The reported $3.04 included a one-time $77 million pre-tax charge, $0.13 per diluted share, for incremental benefits awarded under the new employee agreement effective this past March 14.