PriceSmart (PSMT) Tops Q1 EPS by 22c, Revenues Beat
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PriceSmart (NASDAQ: PSMT) reported Q1 EPS of $0.90, $0.22 better than the analyst estimate of $0.68. Revenue for the quarter came in at $877.4 million versus the consensus estimate of $837.37 million.
Comments from Sherry S. Bahrambeygui, Chief Executive Officer:
"PriceSmart delivered solid results for the first quarter of fiscal year 2021. In November, mobility restrictions were reduced in many of our markets. We meanwhile expanded our Click and Go™ contactless shopping program, which provides for ordering online and curbside pickup, and as of Q1, includes delivery options in all of our markets.
We continue to improve operating efficiencies while making appropriate investments. Together, these initiatives have contributed to an increase in our operating income of 45.0% to $44.5 million and an earnings increase of 40.6% to $0.90 per diluted share in the first quarter of 2021 compared to the prior-year period.
Although varying pandemic-related restrictions throughout our markets were on the rise again in December and continue to impact the business in early January, thanks to our tremendous team, we are becoming increasingly adept at early monitoring and quickly adjusting to challenges as they arise, as well as anticipating the needs and preferences of our Members."
For earnings history and earnings-related data on PriceSmart (PSMT) click here.
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