Core Points - PriceSmart, Inc. announced an 8.6% increase in its annual dividend, reflecting the Board's confidence in the company's financial strength [1][2] - The annual cash dividend is set at $1.26 per share, with payments scheduled for February 28, 2025, and August 29, 2025 [2] - The company operates 54 warehouse clubs across 12 countries and plans to open two additional clubs in Costa Rica and Guatemala in 2025 [6] Dividend Declaration - The Board of Directors declared an annual cash dividend of $1.26 per share, an increase from last year's $1.16 per share [2] - The dividend will be paid in two installments of $0.63 per share [2] - Future dividends will be determined at the Board's discretion based on financial performance and capital requirements [3] Annual Meeting Results - Eleven nominees were elected to the PriceSmart Board of Directors during the annual meeting [4] - Stockholders approved the compensation for named executive officers for fiscal year 2024 and an amendment to increase the number of shares available for equity awards by 750,000 [5] - Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending August 31, 2025 [5] Company Overview - PriceSmart operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean [6] - The company currently has 54 warehouse clubs and plans to expand to 56 with new openings in 2025 [6]

Company Overview - PriceSmart Inc operates membership-based shopping clubs in Latin America and the Caribbean [1] - The company has a competitive moat in its operating regions [1] Analyst Commentary - Previous bullish commentary on the stock due to its competitive advantages [1] Note: The provided content does not contain sufficient information to create additional groupings or key points beyond the company overview and analyst commentary sections

Financial Data and Key Metrics - The earnings call for PriceSmart Inc covers the first quarter of fiscal year 2025 which ended on November 30 2024 [2][3] - The company released its earnings press release and 10-Q on January 8 2025 which includes non-GAAP financial measures with reconciliations to GAAP measures provided in these documents [5] Business Lines and Key Metrics - No specific data or metrics related to individual business lines were mentioned in the provided content Market Data and Key Metrics - No specific data or metrics related to individual markets were mentioned in the provided content Company Strategy and Industry Competition - No specific information on company strategy or industry competition was mentioned in the provided content Management Commentary on Operating Environment and Future Outlook - No specific commentary from management on the operating environment or future outlook was mentioned in the provided content Other Important Information - The conference call is limited to one hour and is being recorded with a digital replay available until January 17 2025 [1] - The earnings call includes remarks from Robert Price Interim Chief Executive Officer and Michael McCleary Chief Financial Officer followed by a Q&A session [4] - All statements made during the call other than historical facts are forward-looking statements [6] Q&A Session Summary - No specific questions or answers from the Q&A session were mentioned in the provided content

Financial Performance - Total revenues for Q1 FY2025 increased by 7.8% to $1.26 billion compared to $1.17 billion in the same period last year[3] - Net merchandise sales grew by 7.8% to $1.22 billion from $1.14 billion in Q1 FY2024, with a constant currency increase of 8.2%[3] - Operating income for Q1 FY2025 was $58.3 million, slightly up from $58.2 million in the prior year[6] - Net income decreased by 1.6% to $37.4 million, or $1.21 per diluted share, compared to $38.0 million, or $1.24 per diluted share, in Q1 FY2024[6] - Adjusted EBITDA for Q1 FY2025 was $79.1 million, an increase from $77.8 million in the same period last year[6] - Membership income increased to $20.2 million from $17.7 million year-over-year[13] - Adjusted EBITDA for the three months ended November 30, 2024, was $79,117,000, compared to $77,770,000 for the same period in 2023, reflecting an increase[17] - Net merchandise sales for the three months ended November 30, 2024, reached $1,223,859,000, representing a growth rate of 7.8%[19] - On a constant currency basis, net merchandise sales increased to $1,228,528,000, with a growth rate of 8.2%[19] - Comparable net merchandise sales growth for the thirteen weeks ended December 1, 2024, was 5.7%, with a constant currency growth rate of 6.1%[20] Currency Impact - Foreign currency exchange rate fluctuations negatively impacted net merchandise sales by $4.7 million, or 0.4%[3] - The unfavorable impact of foreign currency exchange on net merchandise sales was $(4,669,000), equating to a decrease of 0.4%[19] - The company highlighted the impact of transaction costs related to currency conversion and foreign currency revaluation on financial results[17] Operational Metrics - The company operated 54 warehouse clubs as of November 30, 2024, up from 53 clubs a year earlier[4] - PriceSmart plans to open two new warehouse clubs in Costa Rica and Guatemala in 2025, increasing total clubs to 56[9] Expenses and Adjustments - Adjustments to net income included interest expense of $2,695,000 and a provision for income taxes of $13,496,000 for the three months ended November 30, 2024[17] - Depreciation and amortization for the same period amounted to $20,862,000, up from $19,494,000 in 2023[17] - Interest income for the three months ended November 30, 2024, was $(2,220,000), compared to $(2,866,000) in 2023[17] - Other net expenses for the period were $6,856,000, significantly higher than $2,126,000 in the previous year[17]

Operations and Expansion - As of November 30, 2024, PriceSmart operated 54 warehouse clubs across 12 countries, generating revenues exceeding $4.9 billion in fiscal year 2024[162]. - PriceSmart plans to open two new warehouse clubs in Costa Rica and Guatemala in 2025, increasing total clubs to 56[169]. - The company plans to open a new warehouse club in Cartago, Costa Rica, in spring 2025 and a seventh club in Quetzaltenango, Guatemala, in summer 2025[183]. Membership and Customer Engagement - The company has nearly 2 million membership accounts and almost 4 million cardholders, indicating strong customer engagement[162]. - The annual fee for a Diamond Membership is approximately $40, while Platinum Members pay $80 per year for a 2% cash-back rebate[163]. - Membership income for Q1 FY2025 rose by 13.8% to $20.2 million compared to the same period last year[186]. - The number of Platinum Membership accounts increased to 14.0% of the total membership base as of November 30, 2024, up from 9.3% a year earlier, indicating a successful promotional campaign[215]. - Membership income in the Caribbean segment increased by 17.7% to $5.5 million, reflecting the impact of a $5 increase in membership fees[213]. - The trailing twelve-month renewal rate for memberships was 87.8% as of November 30, 2024, slightly up from 87.4% a year earlier[216]. Financial Performance - Total revenues increased by 7.8% compared to the prior year, with net merchandise sales also rising by 7.8%[186]. - Comparable net merchandise sales increased by 5.7% for the 13 weeks ended December 1, 2024, with a constant currency increase of 6.1%[186]. - Net merchandise sales in Central America increased by 8.4%, contributing 5.1% to total net merchandise sales growth[192]. - Net merchandise sales in the Caribbean segment increased by 5.4%, contributing 1.5% to total net merchandise sales growth[193]. - For the three months ended November 30, 2024, consolidated net merchandise sales were $1,223.9 million, reflecting a 7.8% increase compared to the prior year, with a negative impact of $4.7 million (0.4%) from currency fluctuations[196]. - Net merchandise sales for the three months ended November 30, 2024, were $1,223,859, an increase of $88,845 compared to $1,135,014 in the prior year, representing a growth of 7.8% in total revenues[221]. Expenses and Margins - Selling, general and administrative expenses increased by 10.1% compared to Q1 FY2024, primarily due to investments in technology[186]. - Total gross margin for the same period was $193,982, with a gross margin percentage of 15.9%, down 0.2% from 16.1% in the prior year[221]. - Selling, general and administrative expenses increased by $14.8 million to $160,794, representing 12.8% of total revenues, up from 12.5% in the prior year[227]. Income and Earnings - Operating income for Q1 FY2025 was $58.3 million, remaining effectively flat compared to the prior year[186]. - Net income for Q1 FY2025 was $37.4 million, or $1.21 per diluted share, compared to $38.0 million, or $1.24 per diluted share, in Q1 FY2024[186]. - Adjusted EBITDA for the three months ended November 30, 2024, was $79,117, an increase of $1,347 compared to $77,770 in the prior year[221]. - Interest income decreased to $2,220, down $646 from $2,866 in the prior year, primarily due to lower interest rates[231]. - Interest expense for the three months ended November 30, 2024, was $2,695, a decrease of $121 compared to $2,816 in the prior year[234]. Cash Flow and Investments - Net cash provided by operating activities for the three months ended November 30, 2024, was $38.5 million, a decrease of $2.6 million compared to $41.1 million for the same period in 2023[246]. - Net cash used in investing activities decreased to $29.3 million for the three months ended November 30, 2024, from $30.1 million in the prior year, primarily due to a $16.9 million decrease in purchases of short-term investments[247]. - Net cash used in financing activities significantly decreased to $17.6 million for the three months ended November 30, 2024, from $74.5 million in the same period last year, reflecting fewer stock repurchases[248]. - Capital expenditures for the three months ended November 30, 2024, totaled $28.2 million, with $14.1 million allocated for maintenance and $14.1 million for growth expenditures[250]. Tax and Compliance - The provision for income taxes was $13,496, with an effective tax rate of 26.5%, down from 32.3% in the prior year[240]. - As of November 30, 2024, the company accumulated income tax receivables of $11.3 million and deferred tax assets of $3.7 million in a specific country due to minimum tax rules[265]. - The Company has not placed any allowance on the recoverability of remaining tax receivables or deferred tax assets, believing it is more likely than not to succeed in refund requests[266]. - The Company has not recorded any allowances against VAT and income tax receivables, indicating confidence in recovering disputed balances[267]. Currency and Market Risks - Approximately 80% of net merchandise sales in the first quarter of fiscal year 2025 were in currencies other than the U.S. dollar, with 50.2% of those sales in products purchased in U.S. dollars[173]. - In fiscal year 2023, the Colombian currency devalued by approximately 15%, impacting pricing strategies and total gross margin rates[174]. - The company is actively addressing U.S. dollar illiquidity issues in markets like Trinidad and Honduras, which affects currency conversion for operations[245]. - The Honduran Central Bank began limiting U.S. dollar availability, with approximately $10.9 million in cash and equivalents in lempiras that cannot be readily converted to U.S. dollars[181]. - Currency fluctuations had a $9.9 million (1.4%) positive impact on net merchandise sales in Central America, while the Caribbean and Colombia segments experienced negative impacts of $7.9 million (2.5%) and $6.8 million (5.4%) respectively[197][198][199]. Internal Controls and Governance - Management's evaluations of disclosure controls and procedures concluded they were effective at the reasonable assurance level[274]. - There have been no changes in internal control over financial reporting that materially affected the Company's controls during the most recently completed fiscal quarter[275]. - The Company continues to monitor market risks primarily related to interest rates and currency exchange rates, with no material changes reported[270]. Miscellaneous - The company declared an annual cash dividend of $1.16 per share, with a special dividend of $1.00 per share also declared during fiscal year 2024[249]. - The company repurchased approximately 1,007,000 shares of common stock under a program authorized in July 2023, completing the program in the first quarter of fiscal year 2024[257]. - No impairment charges were recorded during the first quarter of fiscal year 2025, despite evaluations of long-lived assets[268]. - Seasonal fluctuations in merchandising businesses affect operating results, making quarterly results not indicative of full fiscal year performance[269].

Core Insights - PriceSmart, Inc. reported a 7.8% increase in total revenues for the first quarter of fiscal year 2025, reaching $1.26 billion compared to $1.17 billion in the same period last year [2] - Net merchandise sales also grew by 7.8% to $1.22 billion, with a constant currency increase of 8.2% [2][19] - The company recorded earnings of $1.21 per diluted share, a slight decrease from $1.24 per diluted share in the prior year [5] Financial Performance - Total revenues increased from $1.17 billion to $1.26 billion, marking a 7.8% growth [2] - Net merchandise sales rose from $1.14 billion to $1.22 billion, also a 7.8% increase [2] - Comparable net merchandise sales for clubs open for more than 13.5 months increased by 5.7% [4] - Adjusted EBITDA for the quarter was $79.1 million, up from $77.8 million in the previous year [5][16] Operational Metrics - The company operated 54 warehouse clubs as of November 30, 2024, an increase from 53 clubs a year earlier [3] - Membership income rose to $20.2 million from $17.7 million [12] - The company plans to open two new warehouse clubs in Costa Rica and Guatemala in 2025, which will increase the total to 56 clubs [8] Currency Impact - Foreign currency exchange rate fluctuations negatively impacted net merchandise sales by $4.7 million, or 0.4% [2][4] - The constant currency measure indicates that net merchandise sales would have increased by 8.2% without the adverse currency effects [2][19] Summary of Income Statement - Operating income was $58.3 million, slightly up from $58.2 million in the prior year [5] - Net income decreased by 1.6% to $37.4 million from $38.0 million [5] - Total operating expenses increased to $1.20 billion from $1.11 billion [12]

Core Viewpoint - PriceSmart, Inc. plans to release its financial results for the first quarter of fiscal year 2025 on January 8, 2025, due to the Securities and Exchange Commission's closure on January 9, 2025, in honor of former President Jimmy Carter [1] Group 1: Financial Results Announcement - PriceSmart will release its financial results after market close on January 8, 2025 [1] - The original plan was to release earnings and file the Quarterly Report on Form 10-Q on January 9, 2025, but this was changed due to the SEC's closure [1] Group 2: Conference Call Information - A conference call to discuss the financial results will be held on January 10, 2025, at 12:00 p.m. Eastern time [2] - Participants can join the call by dialing toll-free numbers provided for domestic and international callers [2] - A digital replay of the call will be available until January 17, 2025 [2] Group 3: Company Overview - PriceSmart operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, with 54 clubs across 12 countries and one U.S. territory [3] - The company plans to open two new warehouse clubs in Costa Rica and Guatemala in 2025, which will increase the total to 56 clubs [3]

Group 1 - Crude Value Insights provides an investing service and community focused on oil and natural gas, emphasizing cash flow and companies that generate it, which leads to value and growth prospects with real potential [1] - PriceSmart (NASDAQ: PSMT) is highlighted as a company with strong bullish sentiment, operating as a warehouse club similar to other major players in the industry [1] Group 2 - Subscribers of Crude Value Insights gain access to a 50+ stock model account, in-depth cash flow analyses of exploration and production firms, and live chat discussions about the sector [1]

SAN DIEGO, Dec. 3, 2024 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT) plans to release financial results for the first quarter of fiscal year 2025 on Thursday, January 9, 2025, after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, January 10, 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 ...

PRICESMART ANNOUNCES FISCAL 2024 FOURTH QUARTER OPERATING RESULTS AND PLANS FOR SEVENTH WAREHOUSE CLUB IN GUATEMALA NET MERCHANDISE SALES GREW 9.5% COMPARABLE NET MERCHANDISE SALES INCREASED 6.2% $0.94 EARNINGS PER DILUTED SHARE San Diego, CA (October 30, 2024) - PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT), operator of 54 warehouse clubs in 12 countries and one U.S. territory, today announced results for the fiscal fourth quarter of 2024, which ended on August 31, 2024. Fourth Quarter Fi ...