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Ollie's Bargain Outlet Holdings (OLLI) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 2, 2026 · Ollie's Bargain Outlet Holdings (OLLI) Q2 FY27 earnings results →

Q2 FY27 Revenue up 9% year over year to $741M · 12¢ of every $1 of revenue kept as net profit · operating margin 14.6%

Ollie's Bargain Outlet Holdings made $741M in Q2 FY27 (+9% Y/Y). Operating margin 14.6%, net earnings $85.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 2, 2026.

Revenue$741M
Year over year+9%
Operating margin14.6%
Net earnings$85.5M
Operating cash flow$108M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $741.3M in Q2 FY27, up 9% year over year and up 13% from the previous quarter.

Gross margin was 43.5%, up 3.5 points from Q2 FY26. Operating profit was $108.5M, a 14.6% margin (up 3.3 points year over year). Of the extra revenue versus Q2 FY26, 51% reached operating profit, above the 11% margin then. Operating expenses grew 10% against revenue growth of 9%. The fastest-growing cost line was SG&A (+12%). Net earnings were $85.5M, up 39% year over year. The effective tax rate was 25.4%.

Operating cash flow was $108.1M (up 34% year over year), 127% of net earnings. Non-cash charges added back $11.3M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $7.7M. Capital expenditures of $43.3M left free cash flow of $64.8M.

Quarterly history

Ollie's Bargain Outlet Holdings revenue by quarterOllie's Bargain Outlet Holdings revenue by quarter$667MQ4 FY25$577MQ1 FY26$680MQ2 FY26$614MQ3 FY26$779MQ4 FY26$659MQ1 FY27$741MQ2 FY27
Ollie's Bargain Outlet Holdings net earnings by quarterOllie's Bargain Outlet Holdings net earnings by quarter$68.6MQ4 FY25$47.6MQ1 FY26$61.3MQ2 FY26$46.2MQ3 FY26$85.6MQ4 FY26$56.4MQ1 FY27$85.5MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 2, 2026$741M+9%14.6%$85.5M$108M
Q1 FY2710-QJun 3, 2026$659M+14%10.6%$56.4M$45.5M
Q4 FY2610-KMar 19, 2026$779M+17%14.0%$85.6M$182M
Q3 FY2610-QDec 9, 2025$614M+19%9.0%$46.2M$4.8M
Q2 FY2610-QSep 3, 2025$680M+18%11.3%$61.3M$80.7M
Q1 FY2610-QJun 3, 2025$577M+13%9.7%$47.6M$28.7M
Q4 FY2510-KMar 26, 2025$667M+3%13.2%$68.6M$148M

Charts

Ollie's Bargain Outlet Holdings: revenue growth, year over year and quarter over quarterOllie's Bargain Outlet Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+3%Q4 FY25+13%-14%Q1 FY26+18%+18%Q2 FY26+19%-10%Q3 FY26+17%+27%Q4 FY26+14%-15%Q1 FY27+9%+13%Q2 FY27
Latest (Q2 FY27): Y/Y +9%, Q/Q +13%.
Ollie's Bargain Outlet Holdings: where the cash came from (+) and went (−), TTM to Q2 FY27Ollie's Bargain Outlet Holdings: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$341MBuybacks−$183MOther investing−$156MCapital spending−$118MCash drawn (+) / kept (−)$110MShares issued$10.1MTaxes on employees’ shares−$5.1MNet borrowing (+) / repaid (−)−$1.0MAsset & business sales$664K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Ollie's Bargain Outlet Holdings: profit against cash, quarter by quarterOllie's Bargain Outlet Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$35.9M−$4.4MQ3 FY25$68.6M$148MQ4 FY25$47.6M$28.7MQ1 FY26$61.3M$80.7MQ2 FY26$46.2M$4.8MQ3 FY26$85.6M$182MQ4 FY26$56.4M$45.5MQ1 FY27$85.5M$108MQ2 FY27
Latest (Q2 FY27): Net income $85.5M, Operating cash flow $108M.
Ollie's Bargain Outlet Holdings: diluted shares by fiscal yearOllie's Bargain Outlet Holdings: diluted shares by fiscal year66MFY2165MFY2263MFY2362MFY2462MFY2562MFY26
-6.2% since FY21: buybacks shrank the count.
Ollie's Bargain Outlet Holdings in its industry: growth against margin (9 companies, SIC 5331)Ollie's Bargain Outlet Holdings in its industry: growth against margin (9 companies, SIC 5331)revenue growth, year over year →↑ operating marginmedian +9%median 7%WMTCOSTTGTDGBJDLTRPSMTFIVEOLLI (+9%, 15%)
Retail-Variety Stores; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Ollie's Bargain Outlet Holdings

Ollie’s is a leading off-price retailer of brand-name household products. Since our founding in 1982, our mission has been to sell Good Stuff Cheap®. We do this through a flexible buying model that focuses on closeout merchandise and excess inventory from suppliers and manufacturers around the world. Our stores offer Real Brands! Real Bargains! ® in a treasure hunt environment at prices up to 70% below traditional retailers. As of August 1, 2026, we operated 686 stores in 36 states and growing! For more information, visit www.ollies.com .

In its own words, from its 8-K, filed Sep 2, 2026.

Ollie's Bargain Outlet Holdings against its Retail-Variety Stores peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +9% against the peers' median +9%. Operating margin: 14.6% against the peers' median 6.8%.

CompanyQuarterRevenueY/YOp. margin
OLLI Ollie's Bargain Outlet HoldingsQ2 FY27$741M+9%14.6%
WMT WalmartQ2 FY27$187.9B+6%5.0%
COST Costco WholesaleQ4 FY26$95.7B+11%4.0%
TGT TargetQ2 FY27$26.5B+5%9.6%
DG Dollar GeneralQ2 FY27$11.3B+5%6.8%
BJ BJ's Wholesale Club HoldingsQ2 FY27$6.2B+16%4.1%
DLTR Dollar TreeQ2 FY27$4.9B+7%14.1%
PSMT PricesmartQ4 FY26$1.5B+14%3.8%
FIVE Five BelowQ2 FY27$1.3B+23%21.8%

Source: Ollie's Bargain Outlet Holdings 10-Q on SEC EDGAR · CIK 1639300 · Retail-Variety Stores

Guidance and outlook

Ollie's Bargain Outlet Holdings Revenue: guidance against what was reportedOllie's Bargain Outlet Holdings Revenue: guidance against what was reportedguided rangereported (above / within / below)FY24FY25$2.3BFY26$2.6BFY27
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns OLLI and who is buying

Largest holders of OLLI (13F)Largest holders of OLLI (13F)FMR LLC$674MVanguard Group$622MWasatch Advisors LP$440MBlackRock$430MVanguard Capital Management LLC$210MVanguard Portfolio Management LLC$196MCapital Research Global Investors$186MState Street$153MDimensional Fund Advisors LP$133MSummit Trail Advisors, LLC$124M
Funds' net buying of OLLI by quarter (13F)Funds' net buying of OLLI by quarter (13F)$113M2024-09−$159M2024-12$330M2025-03$21.2M2025-06−$239M2025-09−$156M2025-12$255M2026-03$220M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on OLLI

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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