PriceSmart Reports Strong Q4 Earnings and Expansion Plans

Pricesmart ( (PSMT) ) has released its Q4 earnings. Here is a breakdown of the information Pricesmart presented to its investors.

PriceSmart, headquartered in San Diego, is a multinational company operating U.S.-style membership shopping warehouse clubs across Latin America and the Caribbean, offering high-quality merchandise and services at low prices. The company has announced its fiscal 2024 fourth-quarter results, highlighting a 9.5% growth in net merchandise sales and an increase in earnings per diluted share to $0.94. PriceSmart’s total revenues rose by 9.6% year-over-year to $1.23 billion, with comparable net merchandise sales increasing by 6.2%. The company also reported an 89% increase in net income, reaching $29.1 million, and a notable jump in adjusted EBITDA to $70.7 million. Year-to-date, PriceSmart saw an 11.4% increase in total revenues, driven by robust sales performance and favorable currency fluctuations. Looking forward, PriceSmart plans to expand its footprint with the opening of its seventh warehouse club in Guatemala, scheduled for summer 2025, signaling continued growth and investment in the region.