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Grocery Outlet Holding (GO) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Grocery Outlet Holding (GO) Q2 2026 earnings results →

Q2 2026 Revenue up 1% year over year to $1.2B · 0¢ of every $1 of revenue kept as net profit · operating margin 1.3%

Grocery Outlet Holding made $1.2B in Q2 2026 (+1% Y/Y): Non-Perishable $737M, Perishable $455M. Operating margin 1.3%, net earnings $5.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.

Revenue$1.2B
Year over year+1%
Operating margin1.3%
Net earnings$5.6M
Operating cash flow$43.1M

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Grocery Outlet Holding Q2 2026 revenue breakdown: Sankey diagram of revenue (Non-Perishable, Perishable), costs, profit and cash flow
Grocery Outlet Holding Q2 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.2B in Q2 2026, up 1% year over year and up 2% from the previous quarter. Non-Perishable was the largest line at 62% of revenue. Non-Perishable added $0.01B year over year (up 1%), 67% of the total change.

Gross margin was 30.2%, down 0.3 points from Q2 2025. Operating profit was $0.02B, a 1.3% margin (up 0.2 points year over year). Of the extra revenue versus Q2 2025, 23% reached operating profit, above the 1% margin then. Operating expenses fell 1% while revenue rose 1%. Net earnings were $0.01B, up 13% year over year. The effective tax rate was 38.8%.

Operating cash flow was $0.04B (down 41% year over year), 767% of net earnings. Non-cash charges added back $0.03B of depreciation and $3.8M of share-based compensation. Working capital and other items added $0.01B. Capital expenditures of $0.04B left free cash flow of $1.4M.

Quarterly history

Grocery Outlet Holding revenue by quarterGrocery Outlet Holding revenue by quarter$1.1BQ4 2024$1.1BQ1 2025$1.2BQ2 2025$1.2BQ3 2025$1.2BQ4 2025$1.2BQ1 2026$1.2BQ2 2026
Grocery Outlet Holding net earnings by quarterGrocery Outlet Holding net earnings by quarter$2.3MQ4 2024−$23.3MQ1 2025$5.0MQ2 2025$11.6MQ3 2025−$218MQ4 2025−$180MQ1 2026$5.6MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 12, 2026$1.2B+1%1.3%$5.6M$43.1M
Q1 202610-QMay 13, 2026$1.2B+4%-15.3%−$180M$52.6M
Q4 202510-KMar 4, 2026$1.2B+11%-19.3%−$218M$72.3M
Q3 202510-QNov 5, 2025$1.2B+5%2.0%$11.6M$17.3M
Q2 202510-QAug 6, 2025$1.2B+4%1.1%$5.0M$73.6M
Q1 202510-QMay 7, 2025$1.1B+8%-2.0%−$23.3M$58.9M
Q4 202410-KFeb 26, 2025$1.1B+11%1.0%$2.3M$39.5M

Charts

Grocery Outlet Holding: revenue growth, year over year and quarter over quarterGrocery Outlet Holding: revenue growth, year over year and quarter over quarterY/YQ/Q+11%Q4 2024+8%+3%Q1 2025+4%+5%Q2 2025+5%-1%Q3 2025+11%+4%Q4 2025+4%-4%Q1 2026+1%+2%Q2 2026
Latest (Q2 2026): Y/Y +1%, Q/Q +2%.
Grocery Outlet Holding: where the cash came from (+) and went (−), TTM to Q2 2026Grocery Outlet Holding: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$185MCapital spending−$173MNet borrowing (+) / repaid (−)$50.0MOther investing−$24.3MOther financing−$20.1MCash drawn (+) / kept (−)−$19.0MAsset & business sales$924KShares issued$408K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Grocery Outlet Holding: profit against cash, quarter by quarterGrocery Outlet Holding: profit against cash, quarter by quarterNet incomeOperating cash flow$24.2M$23.0MQ3 2024$2.3M$39.5MQ4 2024−$23.3M$58.9MQ1 2025$5.0M$73.6MQ2 2025$11.6M$17.3MQ3 2025−$218M$72.3MQ4 2025−$180M$52.6MQ1 2026$5.6M$43.1MQ2 2026
Latest (Q2 2026): Net income $5.6M, Operating cash flow $43.1M.
Grocery Outlet Holding: diluted shares by fiscal yearGrocery Outlet Holding: diluted shares by fiscal year98MFY202099MFY2021100MFY2022101MFY2023100MFY202498MFY2025
-0.5% since FY2020: buybacks shrank the count.
Grocery Outlet Holding: long-term debt falling due (FY2025)Grocery Outlet Holding: long-term debt falling due (FY2025)$15.0M2026$15.0M2027$464M2028
Cash $69.6M, short-term investments —, long-term debt $493M at 2026-01-03.
Grocery Outlet Holding in its industry: growth against margin (11 companies, SIC 5411)Grocery Outlet Holding in its industry: growth against margin (11 companies, SIC 5411)revenue growth, year over year →↑ operating marginmedian +2%median 3%KRACIPublix Super Markets IncSFMIMKTAWMKYSWYVLGEANGVCHOSTGO (+1%, 1%)
Retail-Grocery Stores; dot size is quarterly revenue; dashed lines are the industry's medians.

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About Grocery Outlet Holding

Grocery Outlet is a growth-oriented extreme value retailer of quality, name-brand consumables and fresh products sold primarily through a network of independently operated stores. As of January 3, 2026, we had 570 stores in California, Washington, Oregon, Pennsylvania, Tennessee, Idaho, Nevada, Maryland, Ohio, New Jersey, North Carolina, Georgia, Alabama, Delaware, Kentucky and Virginia. Our headquarters is in Emeryville, California. Each of our stores offers a fun, treasure hunt shopping experience in an easy-to-navigate, small-box format. An ever-changing assortment of "WOW!" deals, complemented by everyday staple products, generates customer excitement and encourages frequent visits from bargain-minded shoppers. Our flexible buying model allows us to offer quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers.

In its own words, from its 10-K, filed Mar 4, 2026.

Grocery Outlet Holding against its Retail-Grocery Stores peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +2%. Operating margin: 1.3% against the peers' median 2.8%.

CompanyQuarterRevenueY/YOp. margin
GO Grocery Outlet HoldingQ2 2026$1.2B+1%1.3%
KR KrogerQ2 FY27$34.6B+2%2.8%
ACI Albertsons CompaniesQ2 FY27$18.9B-0.1%0.9%
Publix Super MarketsQ3 2026$15.7B+1%5.9%
SFM Sprouts Farmers MarketQ3 2026$2.3B+5%6.6%
IMKTA Ingles MarketsQ3 FY26$1.4B+2%2.5%
WMK Weis MarketsQ3 2026$1.3B+3%2.2%
YSWY YeswayQ2 2026$921M+36%5.2%
VLGEA Village Super MarketQ4 FY26$610M+2%2.8%

Source: Grocery Outlet Holding 10-Q on SEC EDGAR · CIK 1771515 · Retail-Grocery Stores

13F: who owns GO and who is buying

Largest holders of GO (13F)Largest holders of GO (13F)T. Rowe Price Investment Manageme…$187MBlackRock$152MVanguard Group$114MFPR Partners LLC$71.7MVanguard Portfolio Management LLC$60.7MJ. Goldman & Co LP$47.9MState Street$44.5MVanguard Capital Management LLC$42.0MMarshall Wace, LLP$41.5MMillennium Management LLC$29.1M
Funds' net buying of GO by quarter (13F)Funds' net buying of GO by quarter (13F)−$36.7M2024-09$119M2024-12$14.2M2025-03$80.9M2025-06$71.0M2025-09$56.0M2025-12−$90.8M2026-03−$13.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on GO

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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