Filing Flows › Star (STHO) › Q2 2026
Star (STHO) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Star (STHO) reported revenue of $19.4M for the second quarter 2026 (Q2 2026), -54% from a year earlier and -8% from the quarter before. Operating margin was -11.6%, net earnings $41.5M (214.1% of revenue).
Star, Q2 2026: revenue $19.4M (-54% year over year), operating margin -11.6%, net earnings $41.5M, operating cash flow −$2.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.4M | -8% | -54% |
| Operating profit | −$2.2M | — | -175% |
| Net earnings | $41.5M | — | — |
| Operating cash flow | −$2.8M | — | — |
What changed
Revenue was $19.4M in Q2 2026, down 54% year over year and down 8% from the previous quarter. Other income was the largest line at 76% of revenue. Land development revenue lost $25.4M year over year (down 95%), 112% of the total change.
Operating costs exceeded revenue by $2.2M, an operating margin of -11.6%. Total costs fell 45% while revenue fell 54%. Net earnings were $41.4M. The effective tax rate was 0.0%. Non-operating items added $43.7M, 105% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.8M. Non-cash charges added back $856K of depreciation and amortization. Working capital and other items used $45.1M. Capital expenditures of $106K exceeded it, leaving free cash flow of −$2.9M.
Questions
What was Star's revenue in the second quarter 2026?
Star (STHO) reported revenue of $19.4M for the second quarter 2026 (Q2 2026), -54% from a year earlier and -8% from the quarter before.
Was Star profitable in the second quarter 2026?
Operating loss was $2.2M (-11.6% of revenue) and net earnings $41.5M.
Source: Star 10-Q on SEC EDGAR.