EarningsQ2 2026 Earnings Report
MX:HFGN Q2 2026 EPS Results
Actual EPS$0.41
Consensus EPS―
Beat/Miss―
One Year Ago EPS$1.64
MX:HFGN Q2 2026 Revenue Results
Actual Revenue$31.69B
Expected Revenue$31.28B
Beat/MissBeat by +$414.87M
YoY Revenue Growth-8.81%
Earnings Announcement Details
QuarterQ2 2026
Date08/13/2026
TimeBefore Open
Conference CallThursday, August 13, 2026
MX:HFGN Upcoming Earnings
HelloFresh SE's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call emphasizes deliberate, long-term strategic investments and meaningful structural progress (efficiency program, stronger cohort metrics, product and digital enhancements, bond issuance and reconfirmed adjusted EBITDA). However, significant near-term revenue declines (group ~-7.8% CC), ready-to-eat sensitivity to acquisition pullback, higher procurement costs and external disruptions temper the immediate outlook. Management expects H2 operational improvements and has prioritized margin discipline over short-term top-line growth, making the tone balanced between clear long-term positives and short-term execution and macro headwinds.Company Guidance
Efficiency Program Progress
Reached ~85% completion of the previously announced EUR 300 million efficiency program by end of H1 2026, with the remaining ~15% planned for H2; savings are described as permanent structural changes funding product investments.
Improved Revenue Quality / Tenured Customers
Revenue from long-tenured meal kit customers (>4 years) rose to 34% of H1 net revenue (up from 7% in H1 2023), showing stronger retention and higher-quality revenue mix; ready-to-eat tenured customers (>2 years) account for ~20% of revenue and are growing significantly.
Higher Average Order Value and Order Rate
Group average order value increased (CFO: +6.5% in constant currency to EUR 71), meal kit AOV improvements reported (+5.7% YoY in H1 per CEO; meal kit AOV in Q2 EUR 64.5, +7.1% CC per CFO); meal kit order rate up 4.1% YoY in H1.
Adjusted EBITDA and Segment Profitability Progress
Q2 2026 group adjusted EBITDA of EUR 120.6 million (7.8% margin). Meal kit Q2 adjusted EBITDA EUR 167 million at 15.1% margin (broadly stable YoY). Ready-to-eat H1 adjusted EBITDA improved to negative EUR 13.6 million from negative EUR 26.4 million in H1 2025; U.S. RTE nearly breakeven in H1.
Product and Digital Innovation Showing Early Traction
Investments in new SKUs (expanded proteins), GLP‑1 friendly Factor recipes, low-lift meal options, upgraded personalization engine, swaps, and HelloFresh CookBook have driven engagement — CookBook users saved >3 million recipes since launch — supporting retention and broader addressable market.
Other Segment & Geographic Momentum
The 'Other' segment (specialty meat, pet food and new ventures) grew 36.1% in constant currency in Q2, and Factor Europe infrastructure has been built to scale RTE outside the U.S.; initial retail shelf trials for RTE provide a new channel.
Strengthened Capital Structure
In July, HelloFresh issued an inaugural EUR 350 million bond (5.5% coupon, maturing 2031) with BB+ S&P rating to extend debt maturities and diversify funding.
Cash Flow Still Positive and Full-year Adjusted EBITDA Reconfirmed
H1 2026 free cash flow was positive at EUR 49.4 million; management reconfirmed full-year adjusted EBITDA guidance and expects free cash flow to remain positive at the midpoint of guidance, with H2 materially stronger than H1.
MX:HFGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed