10-Q · June 11, 2026
Torrid Holdings Inc. (CURV) reported Q1 2026 results with revenue of $245.8 million, a 7.6% decrease from $266.0 million in Q1 2025, and an EPS of $0.00 compared to $0.06 in the same period last year. Gross profit…
Earnings analysis · 10-Q
CURV earnings analysis
Filed September 10, 2026 · Our reading of the company's report
The latest report
Torrid delivered a mixed Q2: diluted EPS of $0.05 exceeded the $0.01 consensus estimate, but revenue of $231.727 million missed the $242.108 million estimate. Gross margin was 38.7%, aided by an $11.4 million tariff…
Read full summary
Torrid delivered a mixed Q2: diluted EPS of $0.05 exceeded the $0.01 consensus estimate, but revenue of $231.727 million missed the $242.108 million estimate. Gross margin was 38.7%, aided by an $11.4 million tariff refund, making the quality of the margin improvement less durable. Fiscal 2026 sales guidance was raised to $940 million-$960 million primarily to reflect the refund, while management said the underlying outlook was unchanged excluding that benefit.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.05
- Gross margin
- 38.7%
What stood out
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EPS beat despite revenue miss
Q2 revenue was $231.727 million, while the consensus estimate was $242.108 million, a $10.381 million shortfall. Revenue therefore missed expectations despite the earnings beat.
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Diluted EPS exceeded consensus
Diluted EPS was $0.05 versus the $0.01 consensus estimate, a $0.04 beat.
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Tariff refund lifted gross margin
Gross margin was 38.7%, supported in part by an $11.4 million IEEPA tariff refund benefit recognized in Q2.
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Controls remained effective
Management reported that disclosure controls were effective as of August 1, 2026, and stated there were no material changes to internal control over financial reporting during the quarter.
What to watch
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Revenue underperformed expectations
Q2 revenue of $231.727 million was $10.381 million below the $242.108 million consensus estimate, indicating continued topline pressure.
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Margin benefit may not recur
The $11.4 million IEEPA tariff refund benefit supported Q2 results, but the benefit may not recur; management stated the underlying fiscal 2026 outlook was unchanged excluding the refund.
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No risk-factor changes disclosed
Item 1A states there were no material changes to the risk factors disclosed in the 2025 Form 10-K, limiting evidence of risk-factor mitigation or improvement in this filing.
Management's outlook
Fiscal 2026 net sales guidance was raised to $940 million-$960 million and Adjusted EBITDA guidance to $76 million-$86 million, reflecting the $11.4 million IEEPA tariff refund benefit recognized in Q2; management said the underlying outlook was unchanged excluding the benefit. Q3 net sales guidance was $230 million-$235 million and Adjusted EBITDA guidance was $15 million-$20 million.
Earlier filings 4
10-K · March 31, 2026
Torrid (CURV) presents a differentiated omni-channel specialty apparel brand with a proprietary fit approach and loyalty programs while operating 483 stores as of January 31, 2026. Recent quarterly performance shows…
10-Q · December 10, 2025
Torrid (CURV) reported Q3 net sales of $235,153,000 and a GAAP net loss of $6,426,000 (EPS $(0.06)), with income from operations essentially breakeven at $205,000. The quarter showed lower revenue and gross profit…
10-Q · June 9, 2025
Torrid reported Q1 net sales of $265,965 (in thousands), down from $279,771 a year ago, with gross profit declining to $101,402 (in thousands) and diluted EPS falling to $0.06 from $0.12. Operating cash flow swung…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.