NASDAQ$PSMT

Pricesmart Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported strong results despite shopping limitations.

PriceSmart's Q4 results showed a revenue increase of 1.2% to $810.6 million, with net income at $20.1 million, despite challenges from COVID-19 related shopping restrictions. The company saw progress in technology-enabled shopping, with online ordering and curbside pickup contributing 3.6% of net merchandise sales.

  • Total revenues increased by 1.2% to $810.6 million.
  • Net income attributable to PriceSmart was $20.1 million, or $0.65 per diluted share.
  • Net merchandise sales increased 0.5% to $772.9 million.
  • Comparable net merchandise sales decreased 4.0% for warehouse clubs open for greater than 13.5 calendar months.

Headline financials

Total Revenue

$811M

Previous: $801M+1.2%
EPS (adj)

$0.65

Previous: $0.67-3.0%
Capital Expenditures

$10.6M

Previous: $53.7M-80.2%
Free Cash Flow

$74.5M

Previous: $3.73M+1899.2%
Net Income

$20.1M

Previous: $20.7M-2.6%
Operating Income

$29M

Previous: $32M-9.3%
Gross Profit

$140M

Previous: $138M+1.6%
Cash & Equivalents

$299M

Previous: $103M+191.7%
Total Assets

$1.66B

Previous: $1.3B+27.8%
Stock-Based Comp

$3.84M

Previous: $2.55M+50.9%

Revenue & EPS history

Pricesmart · Revenue · Quarterly

$811M

Q4 2020+1.2%vs Q4 2019
Beat estimate in 6 of 16 quarters(38%)
ActualEstimate

Revenue by segment

Pricesmart · $1.12B total across 4 segments · Q4 2023

  • Net Merch. Sales
    $1.09B+10.0%
  • Membership Income
    $17.2M+10.6%
  • Export Sales
    $8.05M-36.1%
  • Other Revenue
    $3.92M

Forward guidance

PriceSmart is focused on executing a successful holiday season and continues to grow on many dimensions, including the expected opening of their 47th club in early December.

Tailwinds

  • Technology-enabled shopping and omni-channel initiatives are progressing
  • Click & Go™ contactless online ordering and curbside pickup service available in all markets
  • Delivery option available in six markets at fiscal year-end
  • New club opening expected in early December
  • Development of better in-bound and outbound online communication channels

Headwinds

  • Significant shopping limitations imposed by local governments
  • Approximately 260 club days lost due to in-club shopping restrictions
  • Comparable net merchandise sales decreased 4.0%
  • Foreign currency exchange rate fluctuations impacted net merchandise sales negatively
  • Operating income decreased compared to the prior year

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

-0.9%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+0.5%

Avg return

30 days after

50%

33 / 66 earnings

Positive

+15.4%

Q2 2020

Best reaction

-15.5%

Q1 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+3.0%+0.0%+1.0%
Q1 2026+4.5%+7.2%+22.9%
Q4 2025-4.8%-3.0%+0.2%
Q3 2025+0.7%+0.8%+1.3%
Q2 2025+7.0%+6.8%+21.8%
Q1 2025-3.2%-8.0%-0.6%
Q4 2024-8.0%-5.0%-0.6%
Q3 2024+2.6%+7.8%+5.7%
Q2 2024-3.6%-4.9%+2.2%
Q1 2024+4.5%+5.2%+6.9%
Q4 2023-13.4%-7.4%-6.3%
Q3 2023+2.3%+0.8%+2.3%
Q2 2023+12.6%+8.8%+2.1%
Q1 2023+8.4%+11.6%+17.6%
Q4 2022+6.6%+8.6%+10.7%
Q3 2022-9.9%-9.0%-11.8%
Q2 2022+10.9%+4.0%-1.4%
Q1 2022+2.1%+2.6%-6.0%
Q4 2021-5.3%-9.2%-0.6%
Q3 2021+4.8%+3.6%-2.1%
Q2 2021-6.4%-6.5%-7.2%
Q1 2021+1.9%+1.5%+2.0%
Q4 2020-4.6%-4.9%+13.1%
Q3 2020+6.4%+8.3%+12.1%
Q2 2020+15.4%+11.2%-3.0%
Q1 2020-6.9%-5.8%-10.0%
Q4 2019+3.9%+6.2%+3.8%
Q3 2019+5.6%+14.3%+10.4%
Q2 2019+6.3%+2.8%-4.1%
Q1 2019+3.3%+3.9%-4.6%
Q4 2018-14.6%-15.7%-18.9%
Q3 2018-8.7%-14.7%-9.8%
Q2 2018+5.2%+5.1%-1.6%
Q1 2018-6.0%-4.7%-2.9%
Q4 2017-3.4%-7.0%-9.5%
Q3 2017-7.6%-7.7%-4.5%
Q2 2017-5.3%-5.3%-4.2%
Q1 2017+5.0%+1.3%+6.3%
Q4 2016+3.4%+2.0%+4.9%
Q3 2016-11.6%-11.3%-16.7%
Q2 2016-2.2%
Q1 2016-5.7%
Q4 2015+2.1%
Q3 2015+3.7%
Q2 2015-3.5%
Q1 2015-8.4%
Q4 2014+0.0%
Q3 2014-1.2%
Q2 2014-10.7%
Q1 2014-10.3%
Q4 2013+9.7%
Q3 2013-3.0%
Q2 2013+5.5%
Q1 2013+2.1%
Q4 2012+6.3%
Q3 2012+5.5%
Q2 2012+3.2%
Q1 2011-2.6%
Q1 2012-15.5%
Q4 2011-11.6%
Q2 2011-11.6%
Q4 2009-4.2%
Q3 2011-4.2%
Q3 2010-4.2%
Q4 2010-4.2%
Q2 2010+1.2%

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