PriceSmart (PSMT) Tops Q4 EPS by 18c, Revenues Miss
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PriceSmart (NASDAQ: PSMT) reported Q4 EPS of $0.67, $0.18 better than the analyst estimate of $0.49. Revenue for the quarter came in at $801.3 million versus the consensus estimate of $812.34 million.
"PriceSmart had a solid finish to Fiscal 2019 and made significant progress, while undergoing change and dealing with challenges. The Company is on solid footing with an excellent balance sheet, strong cash flows, improving sales and margins, expedited growth and an active real estate pipeline. I want to take this opportunity to thank PriceSmart, the Board of Directors and our CEO Sherry Bahrambeygui for the opportunity to serve as CFO," Jager concluded.
Sherry Bahrambeygui commented "During Maarten's tenure as our CFO, he has recruited and developed talent and increased the role and positive impact of the Finance team on our business. We recognize family is a first priority and offer our congratulations and best wishes to Maarten in his future personal and professional endeavors."
"As we proceed with Fiscal Year 2020, we have a strong management team and high quality Finance department. We will proceed as planned to capitalize on our initiatives, drive sales, expedite club openings, develop omni-channel capabilities and reaffirm our commitment to The Six Rights. We will continue to build on our positive momentum," Bahrambeygui concluded.
The Company will be conducting a formal search for the position.
For earnings history and earnings-related data on PriceSmart (PSMT) click here.
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