Riyadh — Mubasher: Americana Restaurants International posted a strong performance in the second quarter (Q2) of 2026, supported by healthy revenue growth, sustained like-for-like (LFL) sales momentum, and significant margin expansion, according to a research report by Aljazira Capital.
The brokerage attributed the improvement in profitability to procurement efficiencies, a favorable shift toward higher-margin premium menu offerings, and operating leverage generated by robust sales growth.
Disciplined cost management and improving economics in the home delivery channel also contributed to stronger earnings during the quarter.
Looking ahead, Aljazira Capital expects Americana's net profit to grow at a double-digit pace in 2026, with gross margins continuing to improve as the company benefits from operational efficiencies and a more profitable sales mix.
The report also noted that Americana is adopting a more measured approach to expanding its store network and brand portfolio, with a stronger focus on developing its Arabic quick-service restaurant (QSR) concepts.
Aljazira Capital reiterated its "Overweight" rating on the stock and maintained its target price at SAR 2.45 per share. At current levels, the stock is trading at an estimated 2026 price-to-earnings (P/E) ratio of 17.7x, the brokerage said.
In the first half (H1) of 2026, the cross-listed group logged net profits worth SAR 552.08 million, which was backed by a 12.12% revenue growth.
