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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.
Pricesmart
Pricesmart
Pricesmart Revenue by Segment
Revenue by Segment
Net Merchandise Sales Revenue
CapyFin.comExport Sales Revenue
CapyFin.comMembership Income Revenue
CapyFin.comOther Revenue and Income Revenue
CapyFin.com 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