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EarningsQ2 2026 Earnings Report
THCH Q2 2026 EPS Results
Actual EPS-$0.45
Consensus EPS-$0.25
Beat/MissMissed by -$0.20
One Year Ago EPS-$0.35
THCH Q2 2026 Revenue Results
Actual Revenue$40.16M
Expected Revenue$42.78M
Beat/MissMissed by -$2.62M
YoY Revenue Growth-16.76%
Earnings Announcement Details
QuarterQ2 2026
Date08/18/2026
TimeBefore Open
Conference CallTuesday, August 18, 2026
THCH Upcoming Earnings
TH International's next earnings date is estimated for November 18, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
THCH Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Negative
The call presents a mixed operational picture: management has achieved notable progress on loyalty growth, product launches, digital penetration, and several cost reductions, and secured committed financing to support a turnaround. However, these positives are outweighed by significant top-line deterioration (revenues down 21.7%, system sales down 15.1%), sharp declines in customer traffic and same-store sales (-17.8%), compressed store contribution margins, and a shift to a negative adjusted corporate EBITDA margin. Management has a clear recovery plan and financing support, but near-term financial trends remain weak.Company Guidance
Loyalty Program Growth
Registered loyalty club members exceeded 37.1 million, a 41.7% year-over-year increase; average loyalty members per store surpassed 36,000, strengthening CRM and future marketing reach.
Product Innovation Activity
Launched 27 new products in Q2 2026 (20 beverages and 7 food items) as part of an expanded all-day menu to broaden customer choice and strengthen the all-day dining proposition.
Digital Penetration
Digital orders as a percentage of total orders increased from 90.4% in Q2 2025 to 91.8% in Q2 2026 (up 1.4 percentage points), reflecting continued strengthening of delivery and takeaway channels.
Unit Cost Improvements (Food & Packaging)
Food and packaging cost as a percentage of revenue from company-owned stores declined from 30.1% to 28.3%, a reduction of 1.8 percentage points, reflecting supply chain efficiencies and raw material/logistics cost savings.
Reductions in Several Operating Cost Lines
Quarterly declines in absolute costs: rental and property management fees down 15.6% to RMB 47.9 million; payroll and employee benefits down 12.6% to RMB 43.9 million; delivery costs down 13.3% to RMB 28.9 million; other operating expenses down 14.7% to RMB 17.4 million.
Net New Store Activity (Q2 2026)
Net new store openings totaled +2 in Q2 2026 (driven by net openings of 15 made-to-order stores and net closures of 13 non-MTO stores), indicating targeted portfolio optimization.
Committed External Financing
Closed initial tranche of USD 15.8 million of a committed USD 55 million financing from brand owner Tim Hortons Restaurant International GmbH; proceeds earmarked for product innovation, marketing, and balanced store network expansion.
Management Action Plan and Strategic Focus
New CEO outlined clear priorities: accelerated product innovation, strengthened marketing and CRM (beyond loyalty), operational excellence (training, scheduling), disciplined store network focusing on top-tier cities and high-traffic channels, and increased use of technology/AI to drive productivity.
THCH 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