Pricesmart ( (PSMT) ) has released its Q2 earnings. Here is a breakdown of the information Pricesmart presented to its investors.
PriceSmart, Inc., headquartered in San Diego, operates membership shopping warehouse clubs in Latin America and the Caribbean, offering high-quality merchandise and services at low prices to its members. The company recently reported its fiscal 2025 second-quarter results, highlighting a 5.8% growth in net merchandise sales and the opening of its ninth warehouse club in Costa Rica.
For the second quarter of fiscal 2025, PriceSmart reported a total revenue increase of 5.6% to $1.36 billion, with net merchandise sales rising to $1.33 billion. The company’s comparable net merchandise sales saw a 6.7% increase, with constant currency sales growing by 7.9%. Despite foreign currency exchange rate fluctuations negatively impacting sales by 1.2%, PriceSmart achieved an operating income of $65.3 million and a net income increase of 11.4% to $43.8 million, or $1.45 per diluted share.
Year-to-date financial results showed a 6.6% increase in total revenues to $2.62 billion, with net merchandise sales up by 6.8%. The company also reported an adjusted EBITDA of $166.1 million for the first six months of fiscal 2025, compared to $161.9 million in the previous year. PriceSmart’s strategic expansion continued with the opening of a new warehouse club in Cartago, Costa Rica, bringing the total number of clubs to 55.
Looking ahead, PriceSmart plans to open another warehouse club in Quetzaltenango, Guatemala, in the summer of 2025, which will increase its total to 56 clubs. The company’s management remains focused on expanding its footprint and enhancing its operational efficiency to drive future growth.