Loading...
•
May 31, 2023
Pricesmart Q3 2023 Earnings Report
Pricesmart's Q3 2023 performance was marked by revenue growth and increased profitability.
Key Takeaways
PriceSmart reported a 6.4% increase in total revenues, reaching $1.10 billion, and a 7.1% increase in net merchandise sales, totaling $1.07 billion. Net income attributable to PriceSmart increased by 53.6% to $29.6 million, or $0.94 per diluted share. The company also announced a $75 million stock repurchase program.
Total revenues increased by 6.4% to $1.10 billion.
Net merchandise sales grew by 7.1% to $1.07 billion.
Comparable net merchandise sales increased by 5.8%.
Net income attributable to PriceSmart increased 53.6% to $29.6 million, or $0.94 per diluted share.
Revenue by Segment
Forward Guidance
PriceSmart plans to open new warehouse clubs in Medellín, Colombia, Escuintla, Guatemala, and Santa Ana, El Salvador, anticipating a future count of 54 operating clubs.
Positive Outlook
- Expansion into new markets with warehouse club openings.
- Interim CEO's declined compensation expected to positively impact expenses.
- Focus on high quality merchandise and services at low prices.
- Stock repurchase program.
- Strong performance in net merchandise sales.
Challenges Ahead
- Political and economic risks associated with international operations.
- Volatility in currency exchange rates.
- Potential disruptions in supply chains.
- Cybersecurity breach risks.
- Competition in the industry.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...