Filing Flows › Braemar Hotels & Resorts (BHR) › Q2 2026
Braemar Hotels & Resorts (BHR) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Braemar Hotels & Resorts (BHR) reported revenue of $171M for the second quarter 2026 (Q2 2026), -4% from a year earlier and -18% from the quarter before. Operating margin was 17.9%, net earnings $7.0M (4.1% of revenue).
Braemar Hotels & Resorts, Q2 2026: revenue $171M (-4% year over year), operating margin 17.9%, net earnings $7.0M, operating cash flow $20.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $171M | -18% | -4% |
| Operating profit | $30.6M | -23% | +71% |
| Net earnings | $7.0M | -60% | — |
| Operating cash flow | $20.9M | -5% | -9% |
| Free cash flow | $15.2M | +54% | +184% |
What changed
Revenue was $171.0M in Q2 2026, down 4% year over year and down 18% from the previous quarter. Rooms was the largest line at 60% of revenue. Rooms lost $7.6M year over year (down 7%), 95% of the total change.
Operating profit was $30.6M, a 17.9% margin (up 7.9 points year over year). Total costs fell 13% while revenue fell 4%. Net earnings were $7.0M. The effective tax rate was 26.3%.
Operating cash flow was $20.9M (down 9% year over year), 301% of net earnings. Non-cash charges added back $21.4M of depreciation and amortization. Working capital and other items used $7.5M. Capital expenditures of $5.8M left free cash flow of $15.2M.
Questions
What was Braemar Hotels & Resorts' revenue in the second quarter 2026?
Braemar Hotels & Resorts (BHR) reported revenue of $171M for the second quarter 2026 (Q2 2026), -4% from a year earlier and -18% from the quarter before.
Was Braemar Hotels & Resorts profitable in the second quarter 2026?
Operating profit was $30.6M (17.9% of revenue) and net earnings $7.0M.