PriceSmart's Q2 revenue, net income rise on existing club growth
Overview
U.S. warehouse club operator's fiscal Q2 revenue grew 9.7% yr/yr
Diluted EPS for fiscal Q2 rose to $1.62
Company plans eighth club in Guatemala, targeting spring 2027 opening
Outlook
Company plans to open five new clubs by spring 2027, bringing total to 61 locations
Result Drivers
SALES GROWTH - Net merchandise sales rose 9.9% yr/yr, with comparable net merchandise sales up 7.6%
CURRENCY IMPACT - Foreign currency exchange rates boosted net merchandise sales by $27.7 mln, or 2.1%
CLUB EXPANSION - Operating 56 clubs at quarter-end, up from 54 a year earlier
Company press release: ID:nPn8P6L6la
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.50 bln | $1.48 bln (2 Analysts) |
Q2 EPS |
| $1.62 |
|
Q2 Net Income |
| $49.09 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the discount stores peer group is "buy"
Wall Street's median 12-month price target for PriceSmart Inc is $134.50, about 10.8% below its April 7 closing price of $150.76
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 22 three months ago
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