PriceSmart, Inc. reported first‑quarter 2026 revenue of $1.38 billion, up 9.9% year‑over‑year and 6.9% on a constant‑currency basis, driven by a 5.9% increase in member transactions and a 1.7% rise in average ticket size. Net merchandise sales of $1.35 billion reflected a 10.6% year‑over‑year gain, while comparable sales grew 8.0% YoY, underscoring robust demand across its core markets.
Operating income rose to $62.9 million, and net income reached $40.2 million. Earnings per diluted share were $1.29, slightly above the consensus estimate of $1.28 but below higher analyst forecasts of $1.35 and $1.38. The miss relative to those higher estimates was attributed to cost inflation and pre‑opening expenses associated with new club openings, which weighed on profitability despite strong top‑line growth.
Compared with the same quarter last year, PriceSmart’s EPS grew from $1.21 to $1.29 and net income increased from $37.4 million to $40.2 million, while revenue climbed from $1.26 billion to $1.38 billion. The year‑over‑year revenue growth accelerated from 8.6% in Q4 FY2025 to 9.9% in Q1 FY2026, indicating a strengthening sales trajectory.
Revenue growth was supported by a mix of higher member transaction volume and a modest lift in average ticket size, suggesting that the company’s membership model continues to drive repeat business. Operating income growth was driven by scale and cost‑control initiatives, although the company did not report a clear improvement in operating margin, implying that cost pressures partially offset the benefits of higher sales volume.
PriceSmart operated 56 warehouse clubs as of November 30 2025 and plans to open a tenth club in Costa Rica later in 2026, bringing the total to 60 clubs. The expansion strategy is aimed at capturing additional market share in Central America and the Caribbean, while the company continues to invest in digital capabilities to complement its physical footprint.
Investors reacted cautiously to the EPS miss, but noted the company’s strong cash flow and balance‑sheet strength, as well as its continued expansion plans, which provide a foundation for future growth. The earnings release highlights the company’s ability to generate robust revenue while managing the cost implications of rapid expansion.
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