Highlights

  • Fiscal year 2026 net income was $166.6 million, or $5.40 per diluted share, compared with $147.9 million, or $4.82.
  • Total revenues were $5,876,324 thousand for fiscal year 2026, and 58 warehouse clubs were in operation at August 31, 2026.
  • Membership income was $100.8 million for fiscal year 2026, with 2,185,147 membership accounts and a 90.4% renewal rate.
  • Capital expenditures were $211.3 million, and the company plans to open its first warehouse club in Chile in spring 2027.

PriceSmart (NASDAQ: PSMT) shares were trading at USD 170.03 on October 27, 2026, down 1.78%, with a relative volume at time of 2.67. The warehouse club operator opened its tenth Costa Rica club in Ciudad Quesada in August 2026, opened a third Jamaica club in October 2026, and filed its annual report on Form 10-K for the fiscal year ended August 31, 2026 on October 26, 2026.

PriceSmart was incorporated in Delaware in 1994 and lists its principal executive offices at 9797 Aero Drive, Suite 100, San Diego, California. It operates membership warehouse clubs in Central America, the Caribbean and Colombia, and reports four segments: Central America, the Caribbean, Colombia and the United States. The fiscal year ends August 31, and the company had over 13,000 employees at August 31, 2026, approximately 96% of them outside the United States.

Fiscal Year 2026 Results

Total revenues were $5,876,324 thousand for the fiscal year ended August 31, 2026, compared with $5,270,094 thousand for fiscal year 2025, an increase of 11.5%. Net merchandise sales were $5,753,805 thousand, up 11.7%. Net merchandise sales in constant currency, a non-GAAP measure, increased 8.4%. Comparable net merchandise sales increased 9.6% for the 52 weeks ended August 30, 2026.

Total gross margin was $918,007 thousand, and the total gross margin percentage was 16.0%, compared with 15.7%. Selling, general and administrative expenses were $777,472 thousand, or 13.2% of total revenues, compared with 12.9%. The company attributed the increase primarily to investments in technology and executive compensation. Operating income was $261.0 million, an increase of 12.3%.

Total other expense was a net loss of $33.3 million, compared with $26.0 million in fiscal year 2025. The company said the increase mainly reflected higher transaction costs of converting local currencies into tradable currencies in countries with foreign exchange liquidity issues. Adjusted EBITDA, a non-GAAP measure, was $360.5 million, compared with $320.7 million.

For the fourth quarter of fiscal year 2026, net income was $37.6 million, or $1.21 per diluted share, compared with $31.5 million, or $1.02. Fourth quarter operating income was $57.0 million.

Segments and Membership

Net merchandise sales were $3,426,570 thousand in Central America, $1,513,383 thousand in the Caribbean and $813,852 thousand in Colombia. Operating income by segment was $245,416 thousand in Central America, $96,861 thousand in the Caribbean and $32,765 thousand in Colombia. The United States segment reported an operating loss of $17,664 thousand.

Membership income was $100,785 thousand, up 17.8%. Platinum Membership accounts were 23.4% of the total membership base at August 31, 2026, compared with 17.9% at August 31, 2025. The company disclosed that approximately 81.2% of net merchandise sales were in currencies other than the U.S. dollar, and it described currency devaluation in Honduras and U.S. dollar illiquidity in Trinidad as continuing risks.

Balance Sheet, Cash Flow and Capital

Cash and cash equivalents, including restricted cash, were $264,719 thousand at August 31, 2026, compared with $285,291 thousand a year earlier. Short-term investments were $111,413 thousand. Total long-term debt was $167,545 thousand.

Net cash provided by operating activities was $307,736 thousand. Net cash used in investing activities was $253,732 thousand, and net cash used in financing activities was $81,995 thousand. Capital expenditures were $211.3 million, made up of $67.5 million of maintenance and $143.8 million of growth expenditures. The board declared an annual cash dividend of $1.40 per share, paid in two installments of $0.70 per share on February 27, 2026 and August 31, 2026. Future dividends are subject to board determination.

Expansion Plans

The company said it plans to open its eleventh Costa Rica club in Santo Tomas de Santo Domingo (Heredia) in the spring of 2027, its eighth Guatemala club in Villa Nueva in late winter of 2027, a fourth Jamaica club on South Camp Road in Kingston in December 2026, and its first club in Chile in Santiago in the spring of 2027.