The core operational improvement (revenue +10%, operating income +119%) is positive, but the swing to a net loss due to FX is a major red flag. Traders should monitor the company's commentary on future FX hedging policies and the trajectory of local currencies vs. the USD. The next 10-Q will be critical to see if FX volatility persists or if the company takes action to mitigate it.
Price Chart
Executive Summary
Super Hi International reported Q2 2026 revenue of $218.8M (+10.0% YoY) and income from operations of $8.1M (+118.9% YoY), driven by higher table turnover and guest visits. However, the company swung to a net loss of $1.9M from a profit of $16.4M in Q2 2025, due to a $20.6M increase in net foreign exchange losses from local currency depreciation against the USD. The core restaurant business is improving operationally, but the bottom line is being significantly impacted by non-operational FX headwinds, which is a key concern for investors.
Key Facts
- Q2 2026 revenue was $218.8M, up 10.0% YoY from $198.9M.
- Income from operations was $8.1M, up 118.9% YoY from $3.7M.
- Net loss was $1.9M vs. a profit of $16.4M in Q2 2025, driven by a $20.6M increase in net foreign exchange losses.
- Overall average table turnover rate improved to 3.9 times/day from 3.8 times/day YoY.
- Total guest visits increased 5.2% YoY to 8.1 million.
- Restaurant count grew to 129 as of June 30, 2026, from 127 as of March 31, 2026.
- Revenue from delivery business surged 105.4% YoY to $7.6M, and other business revenue rose 119.7% YoY to $13.4M.
- H1 2026 revenue was $444.8M (+12.1% YoY), with profit of $2.1M vs. $28.3M in H1 2025.
- Restaurant-level operating margin improved to 10.7% in H1 2026 from 6.4% in H1 2025.
- No interim dividend was declared.
Financial Impact
Revenue growth of 10% YoY to $218.8M, but net loss of $1.9M due to $20.6M FX loss swing.
Risk Factors
- Continued foreign exchange volatility, particularly depreciation of local currencies against the USD, could further erode net income.
- The company does not currently have a formal FX hedging policy, leaving earnings exposed to currency fluctuations.
- Slowing consumer demand in key markets (North America, East Asia) could pressure same-store sales and table turnover.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-101041 |
| Document: 0001104659-26-101041-index-headers.html | 0001104659-26-101041 |
| Document: 0001104659-26-101041-index.html | 0001104659-26-101041 |
| Document: 0001104659-26-101041.txt | 0001104659-26-101041 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 6-K | $10.49 | awaiting T+60 | — | $9.90 (−5.62%) |
Oct 2, 2026 25d ago | 6-K | $11.31 | awaiting T+60 | — | $9.90 (−12.47%) |
Sep 22, 2026 5w ago | 6-K | $11.83 | awaiting T+60 | — | $9.90 (−16.31%) |
Sep 2, 2026 7w ago | 6-K | $12.73 | awaiting T+60 | — | $9.90 (−22.23%) |
Sep 2, 2026 7w ago | 6-K | $12.73 | awaiting T+60 | — | $9.90 (−22.23%) |
Aug 26, 2026 8w ago | 6-K | $14.13 | awaiting T+60 | — | $9.90 (−29.91%) |
Aug 14, 2026 10w ago | 6-K | $13.80 | awaiting T+60 | — | $9.90 (−28.26%) |
Aug 14, 2026 10w ago | Press Release | $13.80 | awaiting T+60 | — | $9.90 (−28.26%) |
Aug 5, 2026 11w ago | 6-K | $13.49 | awaiting T+60 | — | $9.90 (−26.61%) |
Jun 12, 2026 19w ago | 6-K | $13.73 $12.51 | ▼ −8.89% | ▼ −12.15% | $9.90 (−27.90%) |
US Market Status
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