PriceSmart(PSMT)

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PriceSmart Is Still On Sale At These Levels
Seeking Alpha· 2024-12-25 04:52
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]
PriceSmart Announces Earnings Release and Conference Call Details for the First Quarter of Fiscal 2025
Prnewswire· 2024-12-03 21:12
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(PSMT) - 2024 Q3 - Earnings Call Transcript
2024-07-11 18:15
PriceSmart, Inc. (NASDAQ:PSMT) Q3 2024 Earnings Conference Call July 11, 2024 12:00 PM ET Company Participants Michael McCleary - Chief Financial Officer Robert Price - Interim Chief Executive Officer Conference Call Participants Jon Braatz - Kansas City Capital Operator Good afternoon, everyone, and welcome to PriceSmart, Inc.'s Earnings Release Conference Call for the Third Quarter of Fiscal Year 2024, which ended on May 31, 2024. After remarks from our company's representatives, Robert Price, Interim Chi ...
PriceSmart(PSMT) - 2024 Q4 - Annual Results
2024-10-30 20:10
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 ...
PriceSmart(PSMT) - 2024 Q4 - Annual Report
2024-10-30 20:04
Profitability and Costs - Profitability is vulnerable to cost increases, including merchandise, wages, shipping, and utilities, which may reduce profitability [63] - The increasing price of oil and certain commodities could negatively affect operating costs and sales, impacting consumer spending [312] - The company does not currently hedge against commodity price risk [312] Competition and Market Expansion - The company faces significant competition from various retail formats and online retailers, which is expected to grow in the future [64] - Future sales growth depends on successfully opening new warehouse clubs in existing and new markets [85] - The company is considering opening warehouse clubs in new markets, but faces risks related to attracting members and competition from established players [88] Membership and Sales - Membership growth and retention are critical, as they directly influence net sales and operating income [82] - Sales growth at existing warehouse clubs may be limited by physical constraints and the availability of suitable locations [86] Risks and Disruptions - The company is exposed to risks from natural disasters and climate change, which could adversely affect operations and financial results [69][70] - Civil unrest in operating countries can disrupt the flow of goods and access to warehouse clubs [74] - The company relies on third-party suppliers for merchandise and services, with risks of supply disruptions and pricing changes that could adversely affect operations [91] - The company faces risks related to product liability claims and recalls, which could harm sales and reputation if safety standards are not met [94] - Cybersecurity risks are increasing, with potential for significant operational disruptions and costs if security measures are breached [107] - The company faces risks related to compliance with international laws and regulations, which could result in significant legal costs and fines [121] Technology and E-commerce - The company is investing in technology to compete with online retailers, which may impact short-term profitability [66] - The integration of physical and digital retail channels is crucial for the company's e-commerce growth, with potential adverse effects on market position and financial performance if unsuccessful [89] - The company is increasing investments in e-commerce and technology to enhance customer experience, but these initiatives may negatively impact short-term financial performance [90] - The company is migrating to new technology systems, including a point-of-sale system, but risks exist regarding successful implementation and potential operational disruptions [99] - The use of artificial intelligence presents risks related to accuracy and bias, which could harm the company's brand and competitive position [111] - Compliance with evolving privacy and information security laws may result in increased costs and legal risks if not properly managed [105] Financial Performance and Currency Risks - As of August 31, 2024, the company operates 54 warehouse clubs across 12 countries and one U.S. territory [79] - As of August 31, 2024, the company operated 54 warehouse clubs in 12 foreign countries, with 79.5% of net merchandise sales in foreign currencies [130] - The company recorded a $7.2 million charge in fiscal year 2023 to settle a minimum tax payment dispute, including a $1.0 million reserve against an income tax receivable [125] - The monetary lease liability subject to revaluation as of August 31, 2024, was $31.5 million, with the impact of foreign currency exchange rate fluctuations being immaterial [138] - The company is subject to volatility in foreign currency exchange rates, which could materially impact its financial performance [129] - Approximately 49.0% of net merchandise sales are from products purchased in U.S. dollars but sold in foreign currencies [301] - The company has local-currency-denominated long-term loans in Barbados, Honduras, Guatemala, and Trinidad, and cross-currency interest rate swaps in Colombia [304] - A hypothetical 5% negative currency movement could result in a net loss of $436,000 due to foreign exchange fluctuations [306] - The company seeks to manage foreign exchange risk through price adjustments, local currency loans, and cross-currency interest rate swaps [304] - The company has significant U.S. dollar net liability positions in Honduras, Guatemala, Dominican Republic, and Trinidad, totaling $73.2 million, exposing it to exchange rate losses if local currencies weaken [307] - The company experienced a comprehensive decline in cash denominated in foreign currencies, totaling approximately $4.6 million [309] - The aggregate fair value of cross-currency interest rate swaps was in a net asset position of approximately $1.3 million at August 31, 2024, compared to $2.3 million at August 31, 2023 [309] - A hypothetical 10% devaluation in currency exchange rates underlying the swaps would have increased their value by approximately $4.4 million [309] - The company has faced U.S. dollar illiquidity in certain markets, notably in Trinidad and Honduras, impacting its ability to convert local currencies into U.S. dollars [311] Stockholder Influence - Approximately 15.3% of the company's voting stock is owned by a few stockholders, which may impede corporate transactions and affect stock price [127]
PRICESMART ANNOUNCES FISCAL 2024 FOURTH QUARTER OPERATING RESULTS AND PLANS FOR SEVENTH WAREHOUSE CLUB IN GUATEMALA
Prnewswire· 2024-10-30 20:01
Core Insights - PriceSmart, Inc. reported a 9.6% increase in total revenues for the fourth quarter of fiscal year 2024, reaching $1.23 billion compared to $1.12 billion in the same period of the previous year [2] - Net merchandise sales grew by 9.5% to $1.19 billion, with comparable net merchandise sales increasing by 6.2% for the 13-week period ended September 1, 2024 [1][4] - The company achieved net income of $29.1 million, or $0.94 per diluted share, representing an 89% increase compared to $15.4 million, or $0.49 per diluted share, in the fourth quarter of fiscal year 2023 [6][12] Financial Performance - Total revenues for the fiscal year ended August 31, 2024, increased by 11.4% to $4.91 billion from $4.41 billion in the prior year [9] - Net merchandise sales for the fiscal year 2024 rose by 11.2% to $4.78 billion, with constant currency sales increasing by 8.6% [9][12] - Adjusted EBITDA for the fourth quarter of fiscal year 2024 was $70.7 million, up from $57.2 million in the same period last year [8] Comparable Sales - Comparable net merchandise sales for the 51 warehouse clubs open for more than 13.5 months increased by 6.2% for the 13-week period ended September 1, 2024 [4] - For the 52-week period ended September 1, 2024, comparable net merchandise sales increased by 7.7%, with constant currency growth of 5.2% [10] Operating Income - The company recorded operating income of $49.2 million in the fourth quarter of fiscal year 2024, compared to $32.1 million in the same quarter of the previous year [5][11] - Year-to-date operating income for fiscal year 2024 was $220.9 million, an increase from $184.5 million in the prior year [11] Future Growth - PriceSmart plans to open its seventh warehouse club in Guatemala in the summer of 2025, which will increase the total number of clubs to 56 [14][17]
Is PriceSmart (PSMT) Stock Outpacing Its Retail-Wholesale Peers This Year?
ZACKS· 2024-09-03 14:40
The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is PriceSmart (PSMT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out. PriceSmart is one of 209 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the indi ...
PriceSmart Announces Earnings Release and Conference Call Details for the Fourth Quarter of Fiscal 2024
Prnewswire· 2024-09-03 12:00
SAN DIEGO, Sept. 3, 2024 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT) plans to release financial results for the fourth quarter of fiscal year 2024 on Wednesday, October 30, 2024, 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 Thursday, October 31, 2024, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (800) 549-8 ...
Are Investors Undervaluing PriceSmart (PSMT) Right Now?
ZACKS· 2024-07-18 14:46
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large. One company to watch right now is PriceSmart (PSMT) . PSMT is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 16.99, while its industry has an average P/E of 31.01. Ove ...
PriceSmart (PSMT) Upgraded to Buy: Here's Why
ZACKS· 2024-07-12 17:01
Earnings Estimate Revisions for PriceSmart Analysts have been steadily raising their estimates for PriceSmart. Over the past three months, the Zacks Consensus Estimate for the company has increased 5.9%. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a changing earnings picture in determining near-term s ...