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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
SPAR Group
SPAR Group (SGRP) investor relations material
SPAR Group Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary13 Aug, 2026
Executive summary
Returned to profitability in Q2 2026, first time since Q1 2025, with net income of $409K after several loss-making quarters, driven by business simplification and focus on profitable growth.
Achieved over 60% year-over-year growth in adjusted EBITDA, reaching $2.1M, and maintained gross margins above 22%.
Shifted revenue mix to higher-margin, recurring merchandising services, improving earnings quality and cash generation.
Progress made on technology re-platforming and scan-based trading initiatives to drive future growth.
Transitioned to OTCQB market after Nasdaq delisting, with no change to strategic direction.
Financial highlights
Q2 2026 net revenues were $36.9M, down 4.5% year-over-year due to lower remodel business volume; U.S. revenues fell 7.8% while Canada grew 30.5%.
Gross profit was $8.4M (22.8% margin), compared to $9.1M (23.5%) in prior year.
Operating income rose to $1.2M from $715,000 year-over-year.
GAAP net income was $409K ($0.02 per diluted share); adjusted net income was $838K ($0.04 per diluted share), up from $151K ($0.01) last year.
Adjusted EBITDA reached $2.1M, up 63% from $1.3M year-over-year.
Outlook and guidance
Full-year 2026 net revenues expected between $130M and $138M, reflecting lower remodel activity but growth in merchandising.
Gross margin guidance of 21.5%-23.5%, up from 15.9% in 2025.
SG&A costs (excluding unusual items) projected at $21M-$24M, down from $32.2M in 2025, trending toward $20M annually.
Management expects sufficient liquidity for the next 12 months, supported by extended credit facilities and projected operations.
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Latest events from SPAR Group
- Shareholders will vote on a one-for-five reverse stock split to support Nasdaq compliance.SGRP
Proxy filing - Shareholders will vote on a 1-for-5 reverse stock split to address Nasdaq compliance.SGRPProxy filing
- Plurality voting clarified for director elections, with corrected proxy card voting options.SGRPProxy filing
- Gross margins rose to 22.3% and EBITDA turned positive despite a 10.3% revenue decline.SGRPQ1 2026
- Shareholders will vote on directors, auditor, executive pay, and a new stock compensation plan.SGRPProxy filing
- Sales up 3.3% in core markets, but margin fell and net loss hit $24.6M amid major restructuring.SGRPQ4 2025
- 2024 revenue fell 25% on JV exits, with a net loss and pending Highwire Capital merger.SGRPQ4 2024
- Shareholders to vote on $2.50/share cash merger; board unanimously recommends approval.SGRPProxy Filing
- Q2 net income rose to $3.6M on $57.3M revenue, with divestiture gains and $21.7M in cash.SGRPQ2 2024
Next SPAR Group earnings date
Q3 202613 Nov, 2026
SPAR Group
Next SPAR Group earnings date
Q3 202613 Nov, 2026
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Frequently asked questions
SPAR Group Inc. is a global merchandising and marketing services company that provides a wide range of in-store solutions to retailers and consumer goods companies. The company's services include product merchandising, shelf maintenance, retail audits, and assembly services. SPAR Group operates across multiple industries such as consumer electronics, health and beauty, automotive, and grocery, helping clients improve product visibility and optimize retail operations. The company is headquartered in Auburn Hills, Michigan, USA, and its shares are listed on the NASDAQ.