Natural Grocers Q2 Sales Up 0.5% to $337M and Board Declares $0.15 Dividend
NGVC•Natural Grocers reported fiscal Q2 sales of $337.4 million, up 0.5% year-over-year, and net income rose 2.5% to $13.4 million ($0.58 per share) with adjusted EBITDA climbing 4% to $27.4 million and gross margin expanding 10 basis points to 30.4%. The board declared a quarterly cash dividend of $0.15 per share payable June 3 to shareholders of record May 18.
1. Second Quarter Fiscal 2026 Results
Natural Grocers posted net sales of $337.4 million for the quarter ended March 31, a 0.5% increase from the prior year, driven by a $1.7 million gain in comparable store sales and a $1.1 million lift from new stores. Net income rose 2.5% to $13.4 million, translating to $0.58 diluted EPS, while adjusted EBITDA improved 4.0% to $27.4 million and operating margin expanded to 5.4%.
2. Dividend Declaration
The board approved a quarterly cash dividend of $0.15 per common share, with a record date of May 18, 2026 and a payment date of June 3, 2026, marking the company’s continued commitment to returning capital to shareholders.
3. Operational Highlights
Gross margin increased by 10 basis points to 30.4% as a result of lower store occupancy costs, and disciplined expense management reduced store expenses as a percentage of sales to 21.2%. The company also opened one new store during the quarter, bringing the total store count to 170 across 21 states.
