PriceSmart(PSMT) - 2026 Q1 - Quarterly Results

Financial Performance - Net merchandise sales increased by 10.6% to $1.35 billion in Q1 FY2026 compared to $1.22 billion in Q1 FY2025[3] - Total revenues for Q1 FY2026 rose by 9.9% to $1.38 billion from $1.26 billion in the same period last year[3] - Operating income for Q1 FY2026 was $62.9 million, up from $58.3 million in the prior-year period[6] - Net income increased by 7.3% to $40.2 million, or $1.29 per diluted share, compared to $37.4 million, or $1.21 per diluted share, in Q1 FY2025[6] - Adjusted EBITDA for Q1 FY2026 was $86.9 million, compared to $79.1 million in the same period last year[6] - Adjusted EBITDA for the three months ended November 30, 2025, was $86,904,000, compared to $79,117,000 for the same period in 2024, reflecting an increase of approximately 9.0%[17] Sales Growth - Comparable net merchandise sales for clubs open for more than 13.5 months increased by 8.0% for the 13-week period ended November 30, 2025[5] - Net merchandise sales for the three months ended November 30, 2025, reached $1,353,796,000, representing a growth rate of 10.6%[19] - Net merchandise sales on a constant-currency basis for the same period was $1,339,980,000, indicating a growth of 9.5%[19] - Comparable net merchandise sales growth rate for the three months ended November 30, 2025, was 8.0%[19] - Comparable net merchandise sales on a constant-currency basis grew by 6.9%[19] Foreign Currency Impact - Foreign currency exchange rate fluctuations positively impacted net merchandise sales by $13.8 million, or 1.1%[3] - The favorable impact of foreign currency exchange on net merchandise sales was $13,816,000, contributing 1.1% to the growth[19] Operational Expansion - The company plans to open its tenth warehouse club in Ciudad Quesada, Costa Rica, in fall 2026[7] - PriceSmart operates 56 warehouse clubs as of November 30, 2025, an increase from 54 clubs a year earlier[4] - The company anticipates operating 60 warehouse clubs once the new clubs in Costa Rica and the Dominican Republic are opened[10] Expenses - Interest expense increased to $4,420,000 in Q4 2025 from $2,695,000 in Q4 2024[17] - Provision for income taxes rose to $15,529,000 in Q4 2025, compared to $13,496,000 in Q4 2024[17] - Depreciation and amortization expenses increased to $23,977,000 in Q4 2025 from $20,862,000 in Q4 2024[17] - Other expenses, net, amounted to $5,761,000 for the three months ended November 30, 2025, down from $6,856,000 in the same period of 2024[17]