PriceSmart Jumps on Q1 Results
Warehouse-club operator PriceSmart (NASDAQ: PSMT) released its fiscal first-quarter earnings results after the closing bell Wednesday. The company reported net income of $20.0 million or $0.66 per share, compared to $14.0 million or $0.47 per share, in the year ago period. This beat analysts' consensus EPS estimates of $0.62 by four cents.
Warehouse club sales were up 11.8 percent in the period to $523.6 million from $468.2 million last year. Total revenue in the period was $535.3 million versus $477.5 million in last year's corresponding quarter. This was basically in-line with Wall Street analysts' consensus revenue estimates of $535.38 million.
During Wednesday's after hours trading session, PSMT was last trading up around 6 percent to $82.51. The stock also added a little less than 3 percent during regular trading hours for a total gain on the day of just under 9 percent. Over the last 52-weeks, PSMT is up a little better than 28 percent.
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