PriceSmart (PSMT) Q2 2026 earnings summary

Executive summary

• Q2 FY2026 total revenues increased 9.7% year-over-year to $1.50 billion, with net merchandise sales up 9.9% to $1.47 billion and comparable sales up 7.6%.

• Membership accounts grew 7.9% to 2.08 million, with membership income up 16.9% and renewal rates at 90.2%.

• Net income for Q2 FY2026 was $49.1 million ($1.62 per diluted share), up 12% year-over-year; adjusted EBITDA was $99.7 million, up 14.6%.

• Five new clubs are planned by 2027, with recent and upcoming openings in the Dominican Republic, Jamaica, Costa Rica, Guatemala, and Chile.

• Digital transformation advanced with record digital sales ($94.1 million, up 23.4% year-over-year) and omni-channel penetration at 6.4%.

Financial highlights

• Net merchandise sales for Q2 FY2026 were $1.47 billion (+9.9% YoY); comparable sales up 7.6%.

• Gross margin for Q2 FY2026 was 16.1% (+50 bps YoY); total revenue margin at 17.7%.

• Operating income for Q2 FY2026 was $75.4 million (+15.6% YoY); net income was $49.1 million ($1.62 per diluted share).

• Adjusted EBITDA for Q2 FY2026 was $99.7 million (margin 6.7%).

• Cash and equivalents at quarter end were $195.1 million, with $149.7 million in short-term investments.

Outlook and guidance

• Five new warehouse clubs are scheduled to open by 2027, including expansion into Chile.

• Continued investment in technology, digital platforms, and supply chain enhancements to drive growth and efficiency.

• Monitoring macroeconomic and geopolitical risks, including currency volatility, remittance trends, and fuel costs.