PriceSmart (NASDAQ:PSMT) earnings for fiscal second quarter of 2020 have PSMT stock unmoving after-hours Wednesday. This comes after reporting adjusted earnings per share (EPS) of 85 cents on revenue of $906.74 million. These both come in above Wall Street’s estimates of 81 cents per share and revenue of $895.46 million.
Here’s what else is worth mentioning from the most recent PriceSmart earnings report.
- Adjusted per-share earnings are up 7.59% from 79 cents during the same time last year.
- Revenue for the quarter comes in 6.12% higher than the $854.43 million in the fiscal second quarter of 2019.
- Operating income of $38.81 million is a 6.21% increase year-over-year from $36.54 million.
- The PriceSmart earnings report also includes a net income of $25.71 million.
- That’s a 7.75% jump compared to its net income of $23.86 million from the same period of the year prior.
Sherry Bahrambeygui, CEO of PriceSmart, said this about the PSMT stock earnings:
“As noted in our March 2020 Merchandise Sales press release, we saw a significant increase in our net merchandise sales in March driven in part by initial stockpiling, primarily of foods and essentials. Following a strong start, sales moderated and later decreased in the second half of the month as various governments in our markets responded to the outbreak with travel restrictions, ‘shelter in place’ advisories, curfews, and social distancing measures.”
Leaders will be going over the PriceSmart earnings report in a conference call. That call is set to take place at 12:00 p.m. Eastern Time on Thursday. Anyone can take part in the call by dialing in at that time.
PSMT stock was up less than 1% after markets closed on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.