SIR Royalty Income Fund (SRV.UN) Q2 2026 earnings summary

Executive summary

• Q2 Pooled Revenue rose 6.2% YoY to $77.5M and overall same-store sales grew 4.0%; net earnings fell to $2.9M from $3.5M.

• Growth reflected same-store sales gains and the Barrie Scaddabush added to the Royalty Pool in Jan. 2026, partly offset by the Longueuil Jack Astor’s removal.

Financial highlights

• Q2 royalty income rose to $4.65M from $4.38M; Partnership income allocated to the Fund increased to $3.10M from $2.91M.

• Q2 net earnings were $2.89M versus $3.53M; basic and diluted EPS were $0.35 and $0.34, versus $0.42 and $0.40.

• The SIR Loan fair-value gain was $1.0M in Q2 2026 versus $1.75M in Q2 2025, contributing to the lower YoY net earnings.

• YTD Pooled Revenue was $143.5M versus $137.7M; net earnings were $4.25M versus $4.57M.

Outlook and guidance

• Oshawa Jack Astor’s + Freida’s, Windsor Scaddabush and Aurora Scaddabush are expected to enter the Royalty Pool Jan. 1, 2027.

• Four leased sites are planned for three Scaddabush restaurants and one Jack Astor’s + Freida’s; openings and renovations will be reviewed as conditions evolve, with no assurance of completion or Royalty Pool inclusion.

• Plans include pursuing additional sites, investing in existing restaurants and developing dine-in, take-out and delivery offerings.