PriceSmart Inc (NASDAQ:PSMT) reported a Q3 FY23 revenue increase of 6.4% Y/Y to $1.097 billion, slightly missing the consensus of $1.100 billion.
Net merchandise sales rose 7.1% Y/Y (+5.6% Y/Y in constant currency) to $1.07 billion, with foreign currency exchange rate fluctuations impacting positively by $14.9 million.
Comparable net merchandise sales for the 49 warehouse clubs, open for over 13 ½ calendar months, rose 5.8% for the 13 weeks ending June 4, 2023.
Adjusted EBITDA stood at $63.2 million vs. $51.3 million a year ago.
Adjusted EPS of $1.02 exceeded the consensus of $0.85.
As of May 31, 2023, cash and equivalents stood at $338.3 million.
Repurchase: PSMT authorized a share buyback of up to $75 million in the quarter.
As of May 31, 2023, the company had 51 warehouse clubs in operation vs 50 the prior year.
Price Action: PSMT shares closed lower by 5.06% at $73.00 after-hours on Monday.
