Pricesmart Q4 2023 Earnings Report
Key Takeaways
PriceSmart reported a 9.5% increase in total revenues to $1.12 billion for the fourth quarter of fiscal year 2023. Net income attributable to PriceSmart decreased to $15.4 million, or $0.49 per diluted share, compared to $23.3 million, or $0.75 per diluted share, in the prior year. Adjusted earnings per diluted share were $0.65, inclusive of a negative impact of $0.30 per diluted share for costs related to the reserve for the minimum tax settlement.
Total revenues increased by 9.5% to $1.12 billion compared to the prior year.
Net merchandise sales grew by 10.0% to $1.09 billion.
Comparable net merchandise sales increased by 8.8%.
Net income attributable to PriceSmart decreased to $15.4 million, or $0.49 per diluted share.
Pricesmart
Pricesmart
Pricesmart Revenue by Segment
Forward Guidance
The company plans to open a warehouse club in Escuintla, Guatemala on November 30, 2023 and a warehouse club in Santa Ana, El Salvador in early 2024. Once these two new clubs are open, the Company will operate 54 warehouse clubs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income