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Aug 31, 2024
Pricesmart Q4 2024 Earnings Report
Pricesmart's financial performance increased with net merchandise sales growing and earnings per share rising.
Key Takeaways
PriceSmart reported a strong fourth quarter in fiscal year 2024, with a 9.6% increase in total revenues to $1.23 billion. Net income increased significantly by 89.0% to $29.1 million, resulting in earnings per diluted share of $0.94. The company's comparable net merchandise sales also increased by 6.2%.
Total revenues increased by 9.6% to $1.23 billion compared to the same period last year.
Net income rose by 89.0% to $29.1 million, with earnings per diluted share at $0.94.
Comparable net merchandise sales increased by 6.2% for warehouse clubs open for over 13.5 months.
Operating income was $49.2 million, compared to $32.1 million in the prior year.
Pricesmart
Pricesmart
Forward Guidance
PriceSmart plans to open its seventh warehouse club in Guatemala, located in Quetzaltenango, anticipated to open in the summer of 2025.
Positive Outlook
- Expansion into new markets with the seventh warehouse club in Guatemala.
- Expected formalization of a land lease in the first quarter of fiscal year 2025.
- New club is anticipated to open in the summer of 2025.
- The new club will be built on a four-acre property
- Once this new club is open, PriceSmart will operate 56 warehouse clubs in total.