PRICESMART ANNOUNCES FISCAL 2025 THIRD QUARTER OPERATING RESULTS AND CHILE AS A POTENTIAL NEW MARKET
PriceSmart (NASDAQ: PSMT), operator of 55 warehouse clubs across 12 countries and one U.S. territory, reported strong fiscal Q3 2025 results. The company achieved net merchandise sales growth of 8.0% to $1.29 billion, with comparable sales increasing 7.0%. Net income rose 8.2% to $35.2 million, or $1.14 per diluted share.
Key financial metrics include total revenues of $1.32 billion (up 7.1% YoY) and Adjusted EBITDA of $79.0 million compared to $71.0 million last year. The company announced plans to evaluate Chile as a potential new market for multiple warehouse clubs and confirmed upcoming openings in Quetzaltenango, Guatemala (August 2025) and La Romana, Dominican Republic (spring 2026).
PriceSmart (NASDAQ: PSMT), gestore di 55 club di magazzino distribuiti in 12 paesi e un territorio degli Stati Uniti, ha riportato risultati solidi per il terzo trimestre fiscale 2025. L'azienda ha registrato una crescita delle vendite nette di merci dell'8,0%, raggiungendo 1,29 miliardi di dollari, con vendite comparabili in aumento del 7,0%. L'utile netto 猫 cresciuto del 8,2%, arrivando a 35,2 milioni di dollari, pari a 1,14 dollari per azione diluita.
I principali indicatori finanziari includono ricavi totali per 1,32 miliardi di dollari (in aumento del 7,1% su base annua) e un EBITDA rettificato di 79,0 milioni di dollari rispetto ai 71,0 milioni dell'anno precedente. L'azienda ha annunciato l'intenzione di valutare il Cile come potenziale nuovo mercato per pi霉 club di magazzino e ha confermato le aperture imminenti a Quetzaltenango, Guatemala (agosto 2025) e La Romana, Repubblica Dominicana (primavera 2026).
PriceSmart (NASDAQ: PSMT), operador de 55 clubes de almac茅n en 12 pa铆ses y un territorio de EE. UU., report贸 s贸lidos resultados en el tercer trimestre fiscal de 2025. La compa帽铆a logr贸 un crecimiento en ventas netas de mercanc铆as del 8.0% hasta 1.290 millones de d贸lares, con ventas comparables aumentando un 7.0%. La utilidad neta creci贸 un 8.2% hasta 35.2 millones de d贸lares, o 1.14 d贸lares por acci贸n diluida.
Los principales indicadores financieros incluyen ingresos totales de 1.320 millones de d贸lares (un aumento del 7.1% interanual) y un EBITDA ajustado de 79.0 millones de d贸lares comparado con 71.0 millones el a帽o pasado. La compa帽铆a anunci贸 planes para evaluar Chile como un posible nuevo mercado para varios clubes de almac茅n y confirm贸 pr贸ximas aperturas en Quetzaltenango, Guatemala (agosto 2025) y La Romana, Rep煤blica Dominicana (primavera 2026).
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PriceSmart (NASDAQ : PSMT), exploitant de 55 clubs-entrep么ts dans 12 pays et un territoire am茅ricain, a publi茅 de solides r茅sultats pour le troisi猫me trimestre fiscal 2025. La soci茅t茅 a enregistr茅 une croissance des ventes nettes de marchandises de 8,0% 脿 1,29 milliard de dollars, avec une augmentation des ventes comparables de 7,0%. Le b茅n茅fice net a progress茅 de 8,2% pour atteindre 35,2 millions de dollars, soit 1,14 dollar par action dilu茅e.
Les principaux indicateurs financiers comprennent des revenus totaux de 1,32 milliard de dollars (en hausse de 7,1% sur un an) et un EBITDA ajust茅 de 79,0 millions de dollars, contre 71,0 millions l'an dernier. La soci茅t茅 a annonc茅 son intention d'茅tudier le Chili comme nouveau march茅 potentiel pour plusieurs clubs-entrep么ts et a confirm茅 les prochaines ouvertures 脿 Quetzaltenango, Guatemala (ao没t 2025) et La Romana, R茅publique dominicaine (printemps 2026).
PriceSmart (NASDAQ: PSMT), Betreiber von 55 Warenhaus-Clubs in 12 L盲ndern und einem US-Territorium, meldete starke Ergebnisse f眉r das dritte Quartal des Gesch盲ftsjahres 2025. Das Unternehmen erzielte ein Wachstum der Nettowarenverk盲ufe von 8,0% auf 1,29 Milliarden US-Dollar, wobei die vergleichbaren Verk盲ufe um 7,0% stiegen. Der Nettogewinn stieg um 8,2% auf 35,2 Millionen US-Dollar bzw. 1,14 US-Dollar je verw盲sserter Aktie.
Wichtige Finanzkennzahlen umfassen Gesamtums盲tze von 1,32 Milliarden US-Dollar (ein Plus von 7,1% gegen眉ber dem Vorjahr) und ein bereinigtes EBITDA von 79,0 Millionen US-Dollar im Vergleich zu 71,0 Millionen im Vorjahr. Das Unternehmen k眉ndigte an, Chile als potenziellen neuen Markt f眉r mehrere Warenhaus-Clubs zu pr眉fen und best盲tigte bevorstehende Er枚ffnungen in Quetzaltenango, Guatemala (August 2025) und La Romana, Dominikanische Republik (Fr眉hjahr 2026).
- None.
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Insights
PriceSmart delivered solid Q3 growth with 7% comparable sales and potential Chile expansion, despite currency headwinds.
PriceSmart's fiscal Q3 2025 results demonstrate strong operational momentum with net merchandise sales growing 8.0% to
The bottom line showed improvement with diluted EPS of
The warehouse club operator maintained its expansion discipline, operating 55 locations across 12 countries compared to 54 a year earlier. The company also revealed plans to open new locations in Quetzaltenango, Guatemala (August 2025) and La Romana, Dominican Republic (Spring 2026).
Perhaps most noteworthy is PriceSmart's announcement that it's actively evaluating Chile as a potential new market for multiple warehouse clubs. The company has hired local consultants and is searching for appropriate sites, signaling a strategic push beyond its current geographic footprint. This expansion would represent PriceSmart's 13th country of operation and could provide meaningful growth opportunities in South America's most developed economy.
While foreign currency fluctuations created headwinds of
NET MERCHANDISE SALES GREW 8.0%
COMPARABLE NET MERCHANDISE SALES INCREASED
Third Quarter Financial Results
Total revenues for the third quarter of fiscal year 2025 increased听
The Company had 55 warehouse clubs in operation as of May听31, 2025 compared to 54 warehouse clubs in operation as of May听31, 2024.
Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 陆 calendar months increased
The Company recorded operating income during the fiscal third quarter of
Adjusted EBITDA for the third quarter of fiscal year 2025 was
Year-to-Date Financial Results
Total revenues for the nine months ended May 31, 2025 increased
Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 陆 calendar months increased
The Company recorded operating income during the first nine months of fiscal year 2025 of
Adjusted EBITDA for the first nine months of fiscal year 2025 was
New Potential Market
The Company continues to pursue opportunities to add new warehouse clubs in existing markets and to assess opportunities in new markets. In particular, the Company is currently evaluating
Note Regarding Non-GAAP (Generally Accepted Accounting Principles) Financial Measures
The foregoing discussion of the Company's operating results includes references to adjusted EBITDA, net merchandise sales - constant currency and comparable net merchandise sales - constant currency, which are non-GAAP financial measures. We believe these supplemental measures are useful to investors and analysts because they exclude items that we do not believe are indicative of our core operating performance. These non-GAAP financial measures are defined and reconciled to the most comparable GAAP measures later in this document.
Conference Call Information
PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Monday, July听14, 2025, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (800) 549-8228 or (646) 564-2877 for international callers and asking to join the PriceSmart earnings call. A digital replay will be available shortly following the conclusion of the call through Monday, July听21, 2025 by dialing (888) 660-6264 for domestic callers, or (646) 517-3975 for international callers, and entering replay passcode 90598#.
About听PriceSmart
PriceSmart, headquartered in
This press release may contain forward-looking statements concerning PriceSmart, Inc.'s ("PriceSmart", the "Company" or "we") anticipated future revenues and earnings, adequacy of future cash flows, future dividends, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," "intend," and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: various political, economic and compliance risks associated with our international operations, including the effects of tariffs and/or international trade wards and disruptions to remittances, adverse changes in economic conditions in our markets, natural disasters, volatility in currency exchange rates and illiquidity of certain local currencies in our markets, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, our reliance on third party service providers, including those who support transaction and payment processing, data security and other technology services, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of Member, employee or business information, cost increases from product and service providers, interruption of supply chains, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company's most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC's website at , including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law. In addition, these risks are not the only risks that the Company faces. The Company could also be affected by additional factors that apply to all companies operating globally and in the
For further information, please contact Investor Relations (858) 404-8826 or send an email to [email protected].
听
PRICESMART, INC. | |||||||
Three Months Ended | Nine Months Ended | ||||||
May 31, | May 31, | May 31, | May 31, | ||||
Revenues: | |||||||
Net merchandise sales | $听听听听听听 1,289,997 | $听听听听听听 1,194,531 | $听听听听听听 3,848,411 | $听听听听听听 3,590,461 | |||
Export sales | 990 | 11,586 | 14,595 | 30,106 | |||
Membership income | 21,857 | 19,279 | 62,971 | 55,566 | |||
Other revenue and income | 4,445 | 4,032 | 13,142 | 11,720 | |||
Total revenues | 1,317,289 | 1,229,428 | 3,939,119 | 3,687,853 | |||
Operating expenses: | |||||||
Cost of goods sold: | |||||||
Net merchandise sales | 1,086,680 | 1,008,721 | 3,242,892 | 3,024,134 | |||
Export sales | 957 | 10,935 | 13,770 | 28,663 | |||
Selling, general and administrative: | |||||||
Warehouse club and other operations | 125,745 | 119,053 | 367,832 | 346,792 | |||
General and administrative | 47,070 | 40,434 | 132,669 | 114,682 | |||
Pre-opening expenses | 302 | 26 | 617 | 970 | |||
Loss on disposal of assets | 305 | 350 | 1,579 | 872 | |||
Total operating expenses | 1,261,059 | 1,179,519 | 3,759,359 | 3,516,113 | |||
Operating income | 56,230 | 49,909 | 179,760 | 171,740 | |||
Other income (expense): | |||||||
Interest income | 2,486 | 2,521 | 7,441 | 8,612 | |||
Interest expense | (2,762) | (3,579) | (7,995) | (9,688) | |||
Other expense, net | (6,888) | (1,882) | (19,050) | (11,044) | |||
Total other expense | (7,164) | (2,940) | (19,604) | (12,120) | |||
Income before provision for income taxes and | 49,066 | 46,969 | 160,156 | 159,620 | |||
Provision for income taxes | (13,917) | (14,483) | (43,797) | (49,895) | |||
Income (loss) of unconsolidated affiliates | 9 | 3 | (13) | 82 | |||
Net income | $听听听听听听听听听听听听 35,158 | $听听听听听听听听听听听听 32,489 | $听听听听听听听听听听 116,346 | $听听听听听听听听听听 109,807 | |||
Net income per share available for distribution: | |||||||
Basic | $听听听听听听听听听听听听听听听听 1.14 | $听听听听听听听听听听听听听听听听 1.08 | $听听听听听听听听听听听听听听听听 3.80 | $听听听听听听听听听听听听听听听听 3.62 | |||
Diluted | $听听听听听听听听听听听听听听听听 1.14 | $听听听听听听听听听听听听听听听听 1.08 | $听听听听听听听听听听听听听听听听 3.80 | $听听听听听听听听听听听听听听听听 3.62 | |||
Shares used in per share computations: | |||||||
Basic | 30,070 | 29,968 | 30,050 | 30,052 | |||
Diluted | 30,078 | 29,968 | 30,055 | 30,052 | |||
听
PRICESMART, INC. | |||
May 31, | August 31, | ||
ASSETS | |||
Current Assets: | |||
Cash and cash equivalents | $听听听听听听听听 167,961 | $听听听听听听听听 125,364 | |
Short-term restricted cash | 3,488 | 1,383 | |
Short-term investments | 94,408 | 100,165 | |
Receivables, net of allowance for credit losses of | 21,249 | 18,847 | |
Merchandise inventories | 553,123 | 528,678 | |
Prepaid expenses and other current assets (includes | 60,550 | 57,910 | |
Total current assets | 900,779 | 832,347 | |
Long-term restricted cash | 11,670 | 9,564 | |
Property and equipment, net | 968,946 | 936,108 | |
Operating lease right-of-use assets, net | 110,262 | 96,415 | |
Goodwill | 43,231 | 43,197 | |
Deferred tax assets | 36,772 | 36,618 | |
Other non-current assets (includes | 65,910 | 61,563 | |
Investment in unconsolidated affiliates | 6,870 | 6,882 | |
Total Assets | $听听听听听 2,144,440 | $听听听听听 2,022,694 | |
LIABILITIES AND EQUITY | |||
Current Liabilities: | |||
Short-term borrowings | $听听听听听听听听听听 18,676 | $听听听听听听听听听听听听听 8,007 | |
Accounts payable | 499,088 | 485,961 | |
Accrued salaries and benefits | 49,281 | 48,263 | |
Deferred income | 43,403 | 38,079 | |
Income taxes payable | 4,045 | 6,516 | |
Other accrued expenses and other current liabilities (includes | 43,571 | 50,035 | |
Operating lease liabilities, current portion | 7,356 | 7,370 | |
Dividends payable | 19,411 | 鈥� | |
Long-term debt, current portion | 16,955 | 35,917 | |
Total current liabilities | 701,786 | 680,148 | |
Deferred tax liability | 1,248 | 1,644 | |
Long-term income taxes payable, net of current portion | 4,644 | 4,762 | |
Long-term operating lease liabilities | 118,912 | 103,890 | |
Long-term debt, net of current portion | 86,170 | 94,443 | |
Other long-term liabilities (includes | 17,487 | 14,842 | |
Total Liabilities | 930,247 | 899,729 | |
Stockholders' Equity: | |||
Common stock | 3 | 3 | |
Additional paid-in capital | 524,348 | 514,542 | |
Accumulated other comprehensive loss | (158,870) | (164,590) | |
Retained earnings | 967,831 | 890,272 | |
Less: treasury stock at cost, 1,934,319 shares as of May 31, 2025 and 1,935,302 shares听 听 听 | (119,119) | (117,262) | |
Total Stockholders' Equity | 1,214,193 | 1,122,965 | |
Total Liabilities and Equity | $听听听听听 2,144,440 | $听听听听听 2,022,694 | |
Reconciliation of Non-GAAP Financial Measures
The following tables calculate the Company's adjusted EBITDA, net merchandise sales - constant currency and comparable net merchandise sales - constant currency, all of which are considered non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures are customary for our industry and commonly used by competitors. However, these non-GAAP financial measures should not be reviewed in isolation or considered as an alternative to any other performance measure derived in accordance with GAAP and may not be comparable to similarly titled measures used by other companies in our industry or across different industries.
Adjusted EBITDA
Adjusted EBITDA is defined as net income before interest expense, provision for income taxes and depreciation and amortization, adjusted for the impact of certain other items, including interest income and other income (expense), net. The following is a reconciliation of our Net income to Adjusted EBITDA for the periods presented:
Three Months Ended | Nine Months Ended | ||||||
(Amounts in thousands) | May 31, | May 31, | May 31, | May 31, | |||
Net income as reported | $听听听听听听听听听听 35,158 | $听听听听听听听听听听 32,489 | $听听听听听听听听 116,346 | $听听听听听听听听 109,807 | |||
Adjustments: | |||||||
Interest expense | 2,762 | 3,579 | 7,995 | 9,688 | |||
Provision for income taxes | 13,917 | 14,483 | 43,797 | 49,895 | |||
Depreciation and amortization听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听听 | 22,757 | 21,129 | 65,386 | 61,114 | |||
Interest income | (2,486) | (2,521) | (7,441) | (8,612) | |||
Other expense, net (1) | 6,888 | 1,882 | 19,050 | 11,044 | |||
Adjusted EBITDA | $听听听听听听听听听听 78,996 | $听听听听听听听听听听 71,041 | $听听听听听听听听 245,133 | $听听听听听听听听 232,936 | |||
(1) | Primarily consists of transaction costs of converting the local currencies into available tradable currencies in some of our countries with liquidity issues and foreign currency losses or gains due to the revaluation of monetary assets and liabilities (primarily |
Net Merchandise Sales - Constant Currency and Comparable Net Merchandise Sales 鈥� Constant Currency
As a multinational enterprise, we are exposed to changes in foreign currency exchange rates. The translation of the operations of our foreign-based entities from their local currencies into
Net merchandise sales growth rate on a net merchandise sales - constant currency basis is calculated as follows:
May 31, 2025 | |||||||
Three Months Ended | Nine Months Ended | ||||||
(Amounts in thousands, except % growth) | Net | % Growth | Net | % Growth | |||
Net merchandise sales | $听听听听听 1,289,997 | 8.0听% | $听听听听听 3,848,411 | 7.2听% | |||
Unfavorable impact of foreign currency exchange | (18,591) | (1.5)听% | (37,998) | (1.0)听% | |||
Net merchandise sales on a constant-currency basis | $听听听听听 1,308,588 | 9.5听% | $听听听听听 3,886,409 | 8.2听% | |||
Comparable net merchandise sales growth rate on a net merchandise sales - constant currency basis is calculated as follows:
June听1, 2025 | |||
Thirteen Weeks Ended | Thirty-Nine Weeks | ||
% Growth | % Growth | ||
Comparable net merchandise sales | 7.0听% | 6.5听% | |
Unfavorable impact of foreign currency exchange | (1.5)听% | (1.1)听% | |
Comparable net merchandise sales on a constant-currency basis听 听 听 听 听 听 听 听 听 听 听听 | 8.5听% | 7.6听% | |
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SOURCE PriceSmart, Inc.
