Block's Square Expands Restaurant Reach with Cascadia Pizza Deal

Earnings

โดย Zacks Investment Research·

Summary · why it matters

Block's Square is deepening its restaurant push, signing Cascadia Pizza Co., which returned to Square in 2026 after reassessing its restaurant and franchise tools, and now uses Square for Restaurants, Square Franchise Suite, and hardware across 17 corporate restaurants, franchise locations, food trucks, and catering in five states. This deal, part of Square's broader expansion into larger sellers, follows an expanded OpenTable partnership and The Baked Bear's plan to add at least five new stores. In the second quarter of 2026, Square's Gross Payment Volume rose 13% to $72.8 billion, with food-and-beverage GPV up 20%, and Block's gross profit increased 25% to $3.17 billion, with adjusted EPS at $1.02. Block expects $12.51 billion of gross profit and $3.47 billion of adjusted operating income for 2026, while competitors PayPal and Adyen have also expanded partnerships, with Adyen joining Toast's U.S. ecosystem. Block shares have risen 15.6% over three months, trading at a forward P/E of 24.84X, below the industry's 27.93X, and the Zacks Consensus Estimate for 2026 EPS has been revised upward, indicating a 70.4% year-over-year increase.

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