Bridgford Foods (BRID) Q2 2026 earnings summary

Executive summary

• Q2 FY2026 sales fell 1.3% YoY to $50.0 million; gross margin narrowed to 17.5%, and net loss widened to $4.9 million from $3.9 million.

• H1 sales rose 2.1% to $105.4 million, but gross margin fell to 21.0% and net loss widened to $5.8 million from $5.0 million.

• Liquidity remains a focus amid recurring losses and negative operating cash flow; management is pursuing price increases, private-label production, cost reductions and route-system changes.

Financial highlights

• Q2 net sales were $50.044 million vs. $50.639 million YoY; operating loss was $5.845 million vs. $3.187 million, and net loss was $4.924 million vs. $3.860 million.

• Q2 basic and diluted net loss per share was $0.54 vs. $0.43; H1 loss per share was $0.64 vs. $0.55.

• H1 net sales were $105.356 million vs. $103.184 million; operating loss was $7.078 million vs. $5.198 million, and net loss was $5.767 million vs. $4.973 million.

• Q2 SG&A rose 2.5% to $14.650 million; H1 SG&A increased 0.2% to $29.266 million, including higher consulting, vehicle repairs, insurance and healthcare costs.

• H1 operating cash outflow was $1.813 million vs. $5.426 million; financing provided $2.205 million, including $3.250 million in borrowings.

Outlook and guidance

• Management expects inflationary pressure on labor, freight and manufacturing materials to continue through the remainder of FY2026; commodity costs may also fluctuate.

• Priorities include private-label production to increase volume, DSD route and fleet reductions, competitive sourcing of production materials, price increases and SG&A reductions.

• Management anticipates sufficient liquidity to operate for at least 12 months based on expected operating cash generation, while monitoring inflation and interest-rate volatility.

• As of June 1, 2026, revolving-facility borrowings reached $6.0 million, leaving $1.5 million available; further liquidity may depend on inventory sell-down, additional borrowing or mortgaging real estate.