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PriceSmart (PSMT) Q3 Earnings & Revenues Miss Estimates
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PriceSmart, Inc. (PSMT - Free Report) reported third-quarter fiscal 2017 earnings of 62 cents per share, missing the Zacks Consensus Estimate of 69 cents by 10.1%. Earnings increased 12.7% from 55 cents a year ago.
Total revenues during the quarter were $730.3 million, missing the Zacks Consensus Estimate of $732 million by 0.2%. The figure, however, reflects an increase of 3.7% year over year, supported by higher sales across the board, barring export sales.
Segment Details
Net warehouse club sales, comprising 97.3% of the total revenue, grew 3.8% year over year to $710.7 million. Export sales dropped to $6.5 million from $7.1 million in the year-ago period. Membership income grew 4.9% year over year to $12 million. Sales from other category were $1 million against $1.1 million in the third quarter of fiscal 2016.
Inside the Headline Numbers
PriceSmart had 39 warehouse clubs in operation as of May 2017 compared with 38 in May 2016.
The company’s total operating expenses increased 3.8% year over year to $702.6 million, primarily because of higher cost of goods sold and selling, general and administrative expenses of the warehouse club operations.
The company recorded operating income of $27.6 million compared with $27.5 million a year ago.
First Nine Months Performance
For the first nine months of fiscal 2017, PriceSmart reported earnings of $2.34 per diluted share, reflecting an increase of 6.8% from the prior-year period.
Total revenues increased 3.1% to $2.26 billion from $2.19 billion in the prior-year period.
Net warehouse club sales increased 3% to $2.2 billion from $2.13 billion in the first nine months of fiscal 2016.
Financials
Cash and cash equivalents, as of May 31, 2017, were $192.1 million, down from $199.5 million in fiscal 2016.
PriceSmart, Inc. Price, Consensus and EPS Surprise
PriceSmart currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Retail - Discount Stores industry are Burlington Stores, Inc. (BURL - Free Report) , Dollar General Corporation (DG - Free Report) and Target Corporation (TGT - Free Report) , each carrying a Zacks Rank #2 (Buy).
Burlington Stores delivered an average positive earnings surprise of 22.63% in the trailing four quarters and has a long-term earnings growth rate of 15.9%.
Dollar General has a long-term earnings growth rate of 10.64%.
Target delivered an average positive earnings surprise of 16.46% in the trailing four quarters.
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It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
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PriceSmart (PSMT) Q3 Earnings & Revenues Miss Estimates
PriceSmart, Inc. (PSMT - Free Report) reported third-quarter fiscal 2017 earnings of 62 cents per share, missing the Zacks Consensus Estimate of 69 cents by 10.1%. Earnings increased 12.7% from 55 cents a year ago.
Total revenues during the quarter were $730.3 million, missing the Zacks Consensus Estimate of $732 million by 0.2%. The figure, however, reflects an increase of 3.7% year over year, supported by higher sales across the board, barring export sales.
Segment Details
Net warehouse club sales, comprising 97.3% of the total revenue, grew 3.8% year over year to $710.7 million. Export sales dropped to $6.5 million from $7.1 million in the year-ago period. Membership income grew 4.9% year over year to $12 million. Sales from other category were $1 million against $1.1 million in the third quarter of fiscal 2016.
Inside the Headline Numbers
PriceSmart had 39 warehouse clubs in operation as of May 2017 compared with 38 in May 2016.
The company’s total operating expenses increased 3.8% year over year to $702.6 million, primarily because of higher cost of goods sold and selling, general and administrative expenses of the warehouse club operations.
The company recorded operating income of $27.6 million compared with $27.5 million a year ago.
First Nine Months Performance
For the first nine months of fiscal 2017, PriceSmart reported earnings of $2.34 per diluted share, reflecting an increase of 6.8% from the prior-year period.
Total revenues increased 3.1% to $2.26 billion from $2.19 billion in the prior-year period.
Net warehouse club sales increased 3% to $2.2 billion from $2.13 billion in the first nine months of fiscal 2016.
Financials
Cash and cash equivalents, as of May 31, 2017, were $192.1 million, down from $199.5 million in fiscal 2016.
PriceSmart, Inc. Price, Consensus and EPS Surprise
PriceSmart, Inc. Price, Consensus and EPS Surprise | PriceSmart, Inc. Quote
Zacks Rank & Stock to Consider
PriceSmart currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Retail - Discount Stores industry are Burlington Stores, Inc. (BURL - Free Report) , Dollar General Corporation (DG - Free Report) and Target Corporation (TGT - Free Report) , each carrying a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Burlington Stores delivered an average positive earnings surprise of 22.63% in the trailing four quarters and has a long-term earnings growth rate of 15.9%.
Dollar General has a long-term earnings growth rate of 10.64%.
Target delivered an average positive earnings surprise of 16.46% in the trailing four quarters.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>