Savers Value Village (SVV) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 8.5% to $463.1M; comparable sales increased 4.2%.

• Net income was $23.4M, or $0.15 per diluted share, versus a $14.0M loss; Adjusted EBITDA rose for a fourth consecutive quarter to $75.9M at a 16.4% margin.

• U.S. momentum, Canadian profit improvement, and faster-than-expected new-store profitability supported results.

Financial highlights

• Retail sales increased 8.8% to $444.4M; wholesale sales were $18.7M, up 0.4%; constant-currency net sales rose 8.9% to $464.7M.

• Adjusted net income was $25.5M, or $0.16 per diluted share, versus $22.5M and $0.14 in Q3 2025.

• Operating income rose to $45.5M from $36.3M; operating margin was 9.8% versus 8.5%.

• 9M net sales increased 8.3% to $1.314B; net income was $39.8M versus $0.2M, and Adjusted EBITDA was $194.8M versus $181.6M.

• 9M operating cash flow was $172.1M versus $76.5M, including lower tax and interest payments and favorable working-capital changes.

Outlook and guidance

• FY2026 net sales guidance is $1.77B-$1.78B; comparable-sales growth is 3.5%-4.0%.

• FY2026 net income guidance is $69M-$75M, or $0.43-$0.47 per diluted share; Adjusted net income is $76M-$83M, or $0.48-$0.52 per share.

• FY2026 Adjusted EBITDA guidance is $270M-$275M; CapEx is $135M-$145M; approximately 25 stores are planned, with CAD/USD assumed at 0.72.

• Q4 comps are expected in the low-to-mid single digits in the U.S. and low single digits in Canada; seven store openings are planned.

• Adjusted EBITDA margin expansion target is 50-100 bps annually over the three years from 2027; 2027 is expected near the lower end, or ~50 bps.