Esab (ESAB) Q3 FY2026 earnings: revenue $825 million, up 13.3% on the year

Esab Corp. (ESAB) reported revenue of $825 million for Q3 FY2026, the quarter ended 2 October 2026, up 13.3% on the same quarter a year earlier. Net income was $39 million, down 29.0% on the year, and diluted earnings per share $0.58. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$825 million

+13.3% on the year · +2.1% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

11.1%

14.6% a year earlier

Q4 FY2024Q3 FY2026

Net income

$39 million

-29.0% on the year · +20.3% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.58

-35.6% on the year · +16.0% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 3 lowered.

Record third-quarter sales, up 13.3%: Net sales were $824.5 million, up 13.3% on a reported basis, with record third-quarter sales reported for the quarter.
Core adjusted EBITDA up 17%: Core adjusted EBITDA was $156 million, up 17.0%, with a core adjusted EBITDA margin of 19.8%, 40 basis points higher than a year earlier.
Full-year profit guidance lowered: The company lowered its full-year core adjusted EBITDA and core adjusted EPS ranges, while raising the acquisition and currency contributions to core sales growth.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	825	808	728	+2.1%	+13.3%
Cost of revenue	501	500	459	+0.1%	+9.2%
Gross profit	324	307	269	+5.3%	+20.2%
Gross margin	39.3%	38.0%	37.0%
Research and development	13.7	13.3	10.5	+3.0%	+30.5%
Selling, general and administrative	220	210	158	+4.9%	+39.2%
Operating income	91.9	78.7	107	+16.8%	-13.8%
Operating margin	11.1%	9.7%	14.6%
Pre-tax income	55.4	48.1	83.0	+15.2%	-33.3%
Income tax	13.3	11.7	17.7	+13.3%	-25.1%
Effective tax rate	23.9%	24.3%	21.3%
Net income	38.9	32.4	54.8	+20.3%	-29.0%
Net margin	4.7%	4.0%	7.5%
Diluted EPS	$0.58	$0.50	$0.90	+16.0%	-35.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	72.7	33.4	81.5	+117.5%	-10.8%
Capital expenditure	18.3	17.7	11.2	+2.9%	+63.3%
Free cash flow	54.4	15.7	70.3	+247.2%	-22.6%
Free cash flow margin	6.6%	1.9%	9.7%
Cash from investing	-17.9	-1,487	-364
Cash from financing	-79.8	662	247
Depreciation and amortisation	41.2	27.9	21.9	+48.0%	+88.4%
Share-based compensation	8.1	6.4	2.6	+25.7%	+206.0%
Dividends paid	7.5	6.1	6.1	+22.6%	+22.9%
Dividend per share	$0.12	$0.12	$0.10	0.0%	+20.0%
Diluted shares, weighted	62m	62m	61m	+1.2%	+1.9%
Shares outstanding at period end	62m	62m	61m	+0.0%	+2.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,560	2,539	2,116	+0.8%	+21.0%
Non-controlling interest	45.6	45.5	46.1	+0.0%	-1.1%
Debt	2,320	2,391	1,334	-3.0%	+73.9%
Operating lease liabilities	113	116	108	-2.4%	+4.8%
Other liabilities	1,457	1,471	1,265	-1.0%	+15.1%
Total liabilities and equity	6,495	6,563	4,869	-1.0%	+33.4%
Fixed assets	388	390	358	-0.6%	+8.3%
Goodwill	2,738	2,746	1,963	-0.3%	+39.5%
Intangible assets	1,353	1,372	684	-1.4%	+97.6%
Cash and equivalents	189	217	218	-13.3%	-13.6%
Receivables	552	554	460	-0.4%	+19.8%
Inventory	570	582	504	-2.0%	+13.2%
Other assets	706	701	682	+0.7%	+3.6%
Total assets	6,495	6,563	4,869	-1.0%	+33.4%

Questions

What was Esab's revenue in Q3 FY2026?

Esab (ESAB) reported revenue of $825 million for Q3 FY2026, the quarter ended 2 October 2026, up 13.3% on the same quarter a year earlier.

How much did Esab earn in Q3 FY2026?

Net income for Q3 FY2026 was $39 million, down 29.0% on the year, and diluted earnings per share $0.58.

When did Esab report Q3 FY2026 results?

Esab filed its 10-Q for the quarter ended 2 October 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	624	648	661	620	664	684	720	681	689	690	707	673	671	678	716	728	721	746	808	825
Cost of revenue	411	424	434	411	440	437	456	431	435	435	437	419	412	423	450	459	463	470	500	501
Gross profit	213	224	227	209	224	247	264	250	255	255	270	254	258	255	266	269	258	275	307	324
Gross margin	34%	35%	34%	34%	34%	36%	37%	37%	37%	37%	38%	38%	39%	38%	37%	37%	36%	37%	38%	39%
R&D	10.8	9.5	9.6	8.0	8.9	9.6	9.5	9.0	10.7	10.1	9.7	9.2	10.2	10.1	10.5	10.5	12.9	12.5	13.3	13.7
SG&A	132	135	137	122	139	147	150	145	145	142	146	146	145	141	156	158	154	174	210	220
Operating income	73.0	83.6	85.9	81.0	78.6	90.7	109	101	104	111	119	106	111	110	109	107	86.6	90.5	78.7	91.9
Operating margin	12%	13%	13%	13%	12%	13%	15%	15%	15%	16%	17%	16%	17%	16%	15%	15%	12%	12%	10%	11%
Pre-tax income	74.0	84.2	78.0	72.1	66.0	71.2	89.8	80.6	77.5	81.4	103	89.1	96.5	93.1	88.1	83.0	64.1	64.9	48.1	55.4
Tax rate	45%	31%	26%	25%	8%	52%	23%	25%	23%	23%	17%	20%	24%	22%	21%	21%	20%	20%	24%	24%
Net income	39.4	55.4	55.2	52.4	60.7	31.9	65.6	57.6	50.2	60.0	82.9	68.2	53.7	67.4	66.9	54.8	37.7	47.6	32.4	38.9
Net margin	6%	9%	8%	8%	9%	5%	9%	8%	7%	9%	12%	10%	8%	10%	9%	8%	5%	6%	4%	5%
Diluted EPS	$0.66	$0.93	$0.91	$0.86	$1.00	$0.52	$1.07	$0.94	$0.83	$0.98	$1.35	$1.11	$0.88	$1.10	$1.09	$0.90	$0.61	$0.78	$0.50	$0.58
Operating cash flow	58.7	16.1	27.3	79.5	91.4	38.1	62.7	107	122	44.5	83.0	101	127	35.4	46.6	81.5	97.1	46.9	33.4	72.7
Capital expenditure	16.7	5.9	7.8	8.3	18.2	7.7	9.3	11.9	19.3	7.4	9.0	10.6	24.7	7.3	9.2	11.2	19.6	13.7	17.7	18.3
Free cash flow	41.9	10.2	19.5	71.2	73.2	30.4	53.4	95.5	103	37.1	74.0	90.4	102	28.1	37.4	70.3	77.4	33.2	15.7	54.4
Dividends paid	0.0	0.0	0.0	3.0	3.0	3.0	3.0	3.6	3.6	3.6	3.6	4.9	4.9	4.9	4.9	6.1	6.1	6.1	6.1	7.5
Shares outstanding	n/a	60m	60m	60m	60m	60m	60m	60m	60m	60m	60m	60m	61m	61m	61m	61m	61m	61m	62m	62m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 2 October 2026, filed 4 November 2026: the filing.