| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 331.00 | 9.8% | 12.8% |
| Total Income | 331.00 | 9.8% | 12.8% |
| Expenditure | 341.97 | 7.7% | 58.0% |
| PBT | -24.09 | 26.2% | 94.8% |
| Net Profit | -20.31 | 10.8% | 95.3% |
| OPM | -3.32% | 2.33pp | |
| NPM | -6.14% | 0.07pp | |
| EPS | -0.12 | 25.0% | 95.3% |
Krispy Kreme Reports Q2 2026 Financial Results, Maintains Guidance
06 Aug 2026 · 6 Aug, 4:27 pm
Summary
Krispy Kreme reported second quarter 2026 results showing continued progress on its turnaround plan, with a net revenue of $331.0 million, down 12.8% year-over-year due to refranchising and store closures. However, systemwide sales grew 2.6% excluding the McDonald's partnership, and Adjusted EBITDA increased 43.2% to $28.8 million, with margins expanding by 340 basis points. The company maintained its full-year 2026 financial guidance, signaling confidence in its strategy to deleverage the balance sheet and drive sustainable, profitable growth.
Key Highlights
- 1
Krispy Kreme reported a net revenue of $331.0 million for the second quarter of 2026, a decline of 12.8% compared to the prior year, reflecting refranchising efforts and strategic closure of underperforming locations.
- 2
Systemwide sales increased by 1.1% in constant currency and 2.6% excluding the impact of the now-ended McDonald's USA partnership.
- 3
The GAAP net loss significantly improved by $421.3 million to $19.8 million for the quarter.
- 4
Adjusted EBITDA increased by 43.2% to $28.8 million, with Adjusted EBITDA margin expanding by 340 basis points to 8.7% compared to the prior year.
- 5
Year-to-date cash provided by operating activities increased by $63.3 million to $10.0 million, and free cash flow improved by $101.3 million to $(6.1) million when compared to the first half of 2025.
- 6
The Company is maintaining its previously issued 2026 financial guidance, including net revenue between $1.25 billion and $1.35 billion and Adjusted EBITDA between $140 million and $150 million.
Management Comments
Josh Charlesworth
The second quarter highlighted continued significant progress on our turnaround to strengthen the balance sheet, reduce leverage, and drive sustainable, profitable growth. Demand for our fresh, iconic doughnuts across the U.S. and international markets drove systemwide sales growth of 2.6% excluding the impact of the now-ended McDonald’s USA partnership. Our results demonstrate the success of the actions we are taking to grow the business and improve profitability, including a significant expansion in Adjusted EBITDA margin of 340 basis points compared to last year. We remain confident in achieving our 2026 financial targets and are maintaining our previously issued guidance.
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