$PSMT

PRICESMART INC

CIK:0001041803|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2026	May 31, 2025
Revenues:
Total revenues	$ 1,481,793	$ 1,317,289	$ 4,360,050	$ 3,939,119
Cost of goods sold:
Cost of goods sold	1,219,574	1,087,637	3,588,373	3,256,662
Selling, general and administrative:
Warehouse club and other operations	144,302	125,745	415,581	367,832
General and administrative	51,405	47,070	150,455	132,669
Pre-opening expenses	579	302	626	617
Loss on disposal of assets	292	305	1,027	1,579
Total operating expenses	1,416,152	1,261,059	4,156,062	3,759,359
Operating income	65,641	56,230	203,988	179,760
Other income (expense):
Interest income	3,259	2,486	9,840	7,441
Interest expense	(3,850)	(2,762)	(12,229)	(7,995)
Other expense, net	(9,913)	(6,888)	(24,079)	(19,050)
Total other expense	(10,504)	(7,164)	(26,468)	(19,604)
Income before provision for income taxes and income (loss) of unconsolidated affiliates	55,137	49,066	177,520	160,156
Provision for income taxes	(15,446)	(13,917)	(48,572)	(43,797)
Income (loss) of unconsolidated affiliates	0	9	0	(13)
Net income (loss)	$ 39,691	$ 35,158	$ 128,948	$ 116,346
Net income per share available for distribution:
Basic (in dollars per share)	$ 1.28	$ 1.14	$ 4.19	$ 3.80
Diluted (in dollars per share)	$ 1.28	$ 1.14	$ 4.18	$ 3.80
Shares used in per share computations:
Basic (in shares)	30,241	30,070	30,213	30,050
Diluted (in shares)	30,270	30,078	30,232	30,055
Net merchandise sales
Revenues:
Total revenues	$ 1,450,698	$ 1,289,997	$ 4,271,024	$ 3,848,411
Cost of goods sold:
Cost of goods sold	1,218,984	1,086,680	3,587,294	3,242,892
Export sales
Revenues:
Total revenues	637	990	1,123	14,595
Cost of goods sold:
Cost of goods sold	590	957	1,079	13,770
Membership income
Revenues:
Total revenues	25,709	21,857	73,588	62,971
Other revenue and income
Revenues:
Total revenues	$ 4,749	$ 4,445	$ 14,315	$ 13,142

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	May 31, 2026	May 31, 2025
Operating Activities:
Net income	$ 128,948	$ 116,346
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	73,027	65,386
Loss on sale of property and equipment	1,027	1,579
Deferred income taxes	(4,898)	(953)
Equity in losses of unconsolidated affiliates	0	13
Gain on sale of joint venture	(594)	0
Stock-based compensation	16,141	13,806
Change in operating assets and liabilities:
Receivables, prepaid expenses and other current assets, non-current assets, accrued salaries and benefits, deferred membership income and other accruals	(4,782)	(9,329)
Merchandise inventories	(62,322)	(24,445)
Accounts payable	45,663	16,757
Net cash provided by operating activities	192,210	179,160
Investing Activities:
Additions to property and equipment	(144,074)	(101,586)
Purchases of short-term investments	(145,145)	(72,255)
Proceeds from settlements of short-term investments	104,517	77,818
Purchases of long-term investments	(11,870)	0
Proceeds from dissolution of investment in joint venture	1,057	0
Proceeds from disposal of property and equipment	6,461	235
Net cash used in investing activities	(189,054)	(95,788)
Financing Activities:
Proceeds from long-term bank borrowings	20,837	5,441
Repayment of long-term bank borrowings	(27,867)	(32,742)
Proceeds from short-term bank borrowings	3,445	10,964
Repayment of short-term bank borrowings	(12,624)	(318)
Cash dividend payments	(21,627)	(19,376)
Purchase of treasury stock	(8,915)	(5,857)
Net cash used in financing activities	(46,751)	(41,888)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	12,926	5,324
Net increase (decrease) in cash, cash equivalents and restricted cash	(30,669)	46,808
Cash, cash equivalents and restricted cash at beginning of period	285,291	136,311
Cash, cash equivalents and restricted cash at end of period	254,622	183,119
Supplemental disclosure of noncash investing and financing activities:
Capital expenditures accrued, but not yet paid	4,820	1,140
Dividends declared but not yet paid	21,683	19,411
Finance right-of-use assets obtained in exchange for lease liabilities	21,956	0
Operating right-of-use assets obtained in exchange for lease liabilities	17,557	20,378
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	208,443	167,961
Short-term restricted cash	10,355	3,488
Long-term restricted cash	35,824	11,670
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 254,622	$ 183,119

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2026	Aug. 31, 2025
Current Assets:
Cash and cash equivalents	$ 208,443	$ 241,024
Short-term restricted cash	10,355	11,061
Short-term investments	113,748	73,186
Receivables, net of allowance for credit losses of $0 and $2 as of May 31, 2026 and August 31, 2025, respectively	19,837	17,400
Merchandise inventories	623,052	560,730
Prepaid expenses and other current assets (includes $860 and $0 as of May 31, 2026 and August 31, 2025, respectively, for the fair value of derivative instruments)	88,287	71,059
Total current assets	1,063,722	974,460
Long-term restricted cash	35,824	33,206
Property and equipment, net	1,112,996	996,281
Operating lease right-of-use assets, net	125,382	113,479
Goodwill	43,293	43,238
Deferred tax assets	44,516	41,229
Other non-current assets (includes $469 and $701 as of May 31, 2026 and August 31, 2025, respectively, for the fair value of derivative instruments)	93,470	60,375
Investment in unconsolidated affiliates	0	6,889
Total Assets	2,519,203	2,269,157
Current Liabilities:
Short-term borrowings	3,445	12,286
Accounts payable	556,665	506,949
Accrued salaries and benefits	58,159	52,478
Deferred income	50,500	43,061
Income taxes payable	1,402	7,265
Other accrued expenses and other current liabilities (includes $7,227 and $551 as of May 31, 2026 and August 31, 2025, respectively, for the fair value of derivative instruments)	67,937	57,627
Operating lease liabilities, current portion	7,888	7,930
Dividends payable	21,683	0
Long-term debt, current portion	65,335	38,675
Total current liabilities	833,014	726,271
Deferred tax liability	738	1,100
Long-term income taxes payable, net of current portion	4,551	4,424
Long-term operating lease liabilities	134,421	122,244
Long-term debt, net of current portion	114,365	147,922
Other long-term liabilities (includes $2,613 and $6,196 for the fair value of derivative instruments and $14,745 and $13,628 for post-employment plans as of May 31, 2026 and August 31, 2025, respectively)	39,706	19,824
Total Liabilities	1,126,795	1,021,785
Stockholders' Equity:
Common stock $0.0001 par value, 45,000,000 shares authorized; 32,817,994 and 32,688,047 shares issued and 30,860,524 and 30,745,833 shares outstanding (net of treasury shares) as of May 31, 2026 and August 31, 2025, respectively	3	3
Additional paid-in capital	542,116	529,354
Accumulated other comprehensive loss	(109,267)	(161,439)
Retained earnings	1,085,064	999,426
Less: treasury stock at cost, 1,957,470 shares as of May 31, 2026 and 1,942,214 shares as of August 31, 2025	(125,508)	(119,972)
Total Stockholders' Equity	1,392,408	1,247,372
Total Liabilities and Equity	$ 2,519,203	$ 2,269,157