Burlington Stores, Inc. (BURL) Form 10-Q — Aug 27, 2026
Burlington Stores reported Q2 Fiscal 2026 net income of $184.3 million, nearly double the $94.2 million earned a year earlier, with diluted EPS of $2.88 versus $1.47. Total revenue rose about 11% to $3.00 billion on a 2% comparable store sales increase. Gross margin expanded to 46.2% of net sales from 43.7%, driven by $55.5 million of tariff refunds and improved merchandise margin; $41.3 million of the quarterly net income benefit came from those one-time refunds. The company repurchased 528,185 shares for $167.4 million in the first half, leaving $217.6 million under its authorization, and ended the quarter with $703.7 million in cash and no ABL borrowings.
Key figures
- Eps
- 2.88
- Revenue
- 3002263000
- Guidance
- No earnings guidance in 10-Q; FY2026 capital expenditures estimated at approximately $875 million net of approximately $55 million of landlord allowances
- Net Income
- 184304000
- Total Debt
- 1913555000
- Revenue Yoy
- 11.0% (Q2 net sales); 12.5% (first half net sales)
- Total Assets
- 10043855000
- Cash Position
- 703686000
- Shares Outstanding
- 62815195
- Inventory
- $1,541.3 million vs $1,414.8 million prior year
- H1 Net Sales
- $5,850.1 million
- Store Count
- 1287
- H1 Comp Sales
- +4%
- H1 Net Income
- $299.0 million vs $195.0 million prior year
- H1 New Stores
- 91 opened (incl. 12 relocations), 4 closed
- Q2 Comp Sales
- +2%
- H1 Cash Change
- cash decreased $528.8 million in the first half
- H1 Diluted EPS
- 4.67
- Q2 Gross Margin
- 46.2% vs 43.7% prior year
- Abl Availability
- $942.0 million available under $1,000.0 million ABL facility; no borrowings
- Term Loan Balance
- $1,711.7 million at 5.5%, maturing September 24, 2031
- Buyback Remaining
- $217.6 million under authorizations (through May 20, 2027)
- Q2 Adjusted EBITDA
- $375.3 million vs $245.7 million prior year
- H1 Share Repurchases
- 528,185 shares for $167.4 million
- Q2 Effective Tax Rate
- 23.9% vs 26.0% prior year
- Convertible Exchange
- $111.0 million principal exchanged for $128.6 million cash plus 150,831 shares; $14.6 million inducement charge
- H1 Operating Cash Flow
- $334.6 million vs $150.5 million prior year
- Reserve Inventory Mix
- 43% of total inventory vs 50% prior year
- Tariff Refund Benefit
- $55.5 million gross margin benefit; $41.3 million net of tax in Q2 net income
- Interest Rate Swap Hedge
- $1,100.0 million of variable rate exposure hedged
- Convertible Notes Remaining
- $186.1 million of 1.25% 2027 Convertible Notes due December 15, 2027
Price after filing
Close on the filing date to close N calendar days later (from $313.99). Historical, not a forecast.
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