PriceSmart Reports $89.3M Net Income in First Half of FY2026, Up 10% Year-Over-Year

PriceSmart, Inc. (NASDAQ: PSMT), an operator of membership shopping warehouse clubs across Latin America and the Caribbean, reported net income of $89.3 million for the six months ending February 28, 2026, up from $81.2 million in the year-earlier period. The gain reflects a 10.2% rise in revenue and improved operating margins. Read more earnings reports.

Revenue for the first half of fiscal 2026 reached $2.82 billion, compared to $2.56 billion in the same period of fiscal 2025. The most recent quarter ending February 28, 2026 generated revenue of $1.47 billion, a 9.9% increase from $1.33 billion in the prior-year quarter.

Operating income for the six-month period climbed to $138.3 million from $123.5 million, while operating income for the December 2025 quarter stood at $75.4 million versus $65.3 million a year earlier. The company's cost of goods sold rose to $2.37 billion in the first half, up from $2.16 billion.

Diluted earnings per share for the six months reached $2.91, compared to $2.66 in the prior-year period. For the most recent quarter, diluted EPS was $1.62 versus $1.45.

Balance Sheet and Cash Position

Total assets as of February 28, 2026 stood at $2.44 billion, up from $2.27 billion at the end of fiscal 2025 on August 31, 2025. Cash and cash equivalents declined to $156.2 million from $241.0 million at the fiscal year-end, though the company also held $149.7 million in short-term investments.

Inventory increased to $623.1 million from $560.7 million at the end of August 2025. Accounts payable rose to $556.3 million from $506.9 million. Property, plant and equipment grew to $1.07 billion from $996.3 million.

Long-term debt decreased to $129.1 million as of February 28, 2026 from $147.9 million six months earlier. Total stockholders' equity reached $1.33 billion, up from $1.25 billion at fiscal year-end.

Cash Flow Activity

Cash from operations for the six-month period totaled $133.3 million, compared to $126.4 million in the prior-year period. Cash used in investing activities was $169.4 million, more than double the $79.5 million used in the first half of fiscal 2025. Cash used in financing activities was $62.4 million versus $40.7 million.

The company operated 56 warehouse clubs as of February 28, 2026. Common shares outstanding totaled 30.9 million at the end of the period, up from 30.7 million at the end of fiscal 2025.