PriceSmart (NASDAQ:PSMT) earnings for the membership warehouse club company’s fiscal third quarter of 2020 have PSMT stock heading higher after markets closed on Thursday. That’s due to its diluted earnings per share of 41 cents blowing past Wall Street’s estimates of 26 cents. Its revenue of $799.93 million also easily surpasses analysts’ estimates of $693.45 million.
Let’s take a close look at the most recent PriceSmart earnings report below.
- Diluted per-share earnings are down 10.9% from 46 cents in the same period of the year prior.
- Revenue for the quarter is sitting 1.4% higher than the 788.56 million reported in fiscal Q3 2019.
- Operating income of $23.97 million is a 9% increase year-over-year from $22 million.
- The Pricesmart earnings also have it bringing in a net income of $12.63 million.
- That’s a 10.2% decline compared to its net income of $14.07 million from the same time last year.
Sherry Bahrambeygui, CEO of PriceSmart, said this in the current earnings report.
“At the beginning of the third quarter, we carefully considered the risks of the unknown and preserved cash and suspended certain capital expenditures and discretionary spending. Within a relatively short time, we restarted multiple capital projects and proceeded with the opening on June 17, 2020 of our 46th Club in Liberia, Costa Rica which was adeptly handled by the tremendous in-country team and with the close, but remote involvement of the Leadership Team internationally.”
PriceSmart doesn’t mention guidance in the earnings report. That comes as no surprise with the novel coronavirus making the market unpredictable. Many other companies are withholding outlooks during the pandemic.
PSMT stock was up 5.8% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.