Sweetgreen, Inc. (SG) · Nov 5, 2026 · Earnings

Sweetgreen earnings beat revenue estimates as same-store sales stay weak

In line — Revenue $176.0M vs ~$169.6M consensus; EPS $(0.26) vs ~$(0.26) consensus

Sweetgreen’s Q3 earnings topped revenue expectations, yet same-store sales remained negative and restaurant-level profitability deteriorated.

Sweetgreen is midway through its Sweet Growth Transformation Plan, trying to restore customer traffic and restaurant profitability after the 2026 cyclosporiasis-related demand shock while continuing digital expansion and selective Infinite Kitchen deployment. Prior guidance already anticipated a difficult year: same-store sales of negative 8% to negative 7%, restaurant-level margin of 10.5% to 11.0%, and adjusted EBITDA of negative $27 million to negative $23 million.

Sales came in ahead of the published bar, but the underlying recovery is incomplete. Third-quarter revenue was $176.0 million, above the published consensus of roughly $169.6 million, while reported EPS of $(0.26) was essentially in line with the roughly $(0.26) estimate. The better-than-feared sales result was helped by new restaurants, not by healthy existing-store demand: same-store sales still fell 6.4%, with traffic down 4.9%. The company said, “Same-Store Sales Change was (6.4)%,” and attributed the traffic decline primarily to the cyclosporiasis outbreak. 〔0〕

	Q3 2026	Q3 2025	Consensus / prior guide
Revenue (Financial Statements)	$176.0M (+2.1%)	$172.4M	~$169.6M consensus
EPS, basic and diluted (Income Statement)	$(0.26)	$(0.31)	~$(0.26) consensus
Same-store sales (Operating Metrics)	(6.4%)	(9.5%)	(8.0%)–(7.0%) FY guide
Restaurant-level profit margin (Restaurant-Level Profit reconciliation)	10.4%	13.1%	10.5%–11.0% FY guide
Adjusted EBITDA (Adjusted EBITDA reconciliation)	$(6.8)M	$(4.4)M	$(27)M–$(23)M FY guide

The key weakness is restaurant economics, not corporate overhead. Restaurant-level profit margin fell 270 basis points to 10.4%, despite lower general and administrative spending, because sales deleveraged and labor costs rose. The company explicitly said, “Restaurant-Level Profit Margin was 10.4%, down 270 basis points versus the prior year period.” 〔1〕 That pushed adjusted EBITDA to a larger loss of $6.8 million from $4.4 million, even though the GAAP net loss narrowed because corporate costs and impairment charges were lower.

Digital engagement is improving, but it has not yet offset the traffic problem. Total digital revenue reached 66.1% of sales and owned digital revenue 38.0%, both above the prior-year levels of 61.8% and 35.3%. That supports the transformation plan’s customer-retention strategy, but the more important operating test remains getting customers back into existing restaurants and converting that demand into profit. The CEO’s claim that sales improved through the quarter and October comps turned positive is encouraging, but it is an early trend rather than a demonstrated quarterly turnaround. 〔2〕

The filing is better than the reduced expectations on sales, but not a clean earnings win. Same-store sales were less bad than the company’s reduced full-year range implied, and revenue exceeded consensus; however, the core restaurant margin and adjusted EBITDA both deteriorated year over year. That combination makes the quarter a partial validation of the recovery narrative, not proof that the business has returned to profitable growth.

Bottom line: Sweetgreen delivered a revenue beat and signs of improving demand, but the existing-store engine is still losing margin. The event modestly advances the recovery story without changing its central profitability challenge.

What to watch next

Fourth-quarter earnings report, early February 2027

Original filing on SEC EDGAR

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decoded▸

AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

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Sweetgreen earnings beat revenue estimates as same-store sales stay weak

What to watch next

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