Power Solutions International (PSIX) Q3 FY2026 earnings: revenue $202 million, down 0.9% on the year

Power Solutions International, Inc. (PSIX) reported revenue of $202 million for Q3 FY2026, the quarter ended 30 September 2026, down 0.9% on the same quarter a year earlier. Net income was $30 million, up 8.4% on the year, and diluted earnings per share $1.30. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$202 million

-0.9% on the year · +32.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

20.2%

13.9% a year earlier

Q4 FY2024Q3 FY2026

Net income

$30 million

+8.4% on the year · +77.5% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.30

+8.3% on the year · +78.1% on the quarter

Q4 FY2024Q3 FY2026

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

What management said

Guidance figures: 1 raised.

Net sales slipped 1% year over year: Net sales were $202.1 million, down $1.8 million or 1% from the third quarter of 2025; sales rose 32.5% sequentially from the second quarter.
Operating income reached a record: Operating income was a record $40.9 million, up $12.5 million or 44.2%, and operating margin was 20.2% versus 13.9%; the figure includes the $3.8 million tariff refund.
Gross margin expanded 580 basis points: Gross margin was 29.7% versus 23.9%; the $3.8 million tariff refund contributed about 188 basis points, partly offset by lower oil and gas sales mix.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	202	153	204	+32.5%	-0.9%
Cost of revenue	142	111	155	+27.8%	-8.4%
Gross profit	59.9	41.4	48.7	+44.9%	+23.1%
Gross margin	29.7%	27.1%	23.9%
Research and development	5.1	5.1	4.8	+0.8%	+6.3%
Selling, general and administrative	13.7	12.1	15.3	+13.0%	-10.3%
Operating income	40.9	23.9	28.4	+71.0%	+44.2%
Operating margin	20.2%	15.7%	13.9%
Interest expense	1.0	1.6	1.6	-38.8%	-40.6%
Pre-tax income	40.1	22.5	26.7	+78.4%	+49.9%
Income tax	10.2	5.6	-0.9	+81.0%
Effective tax rate	25.3%	25.0%	-3.3%
Net income	29.9	16.9	27.6	+77.5%	+8.4%
Net margin	14.8%	11.1%	13.5%
Diluted EPS	$1.30	$0.73	$1.20	+78.1%	+8.3%

$ 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	40.9	56.6	3.3	-27.8%	+1,155.7%
Capital expenditure	2.6	0.8	1.5	+202.5%	+67.4%
Free cash flow	38.3	55.7	1.7	-31.3%	+2,119.2%
Free cash flow margin	19.0%	36.5%	0.8%
Cash from investing	-2.6	-0.8	-1.5
Cash from financing	-36.3	-30.8	-2.1
Depreciation and amortisation	1.7	1.7	1.4	-1.0%	+19.4%
Share-based compensation	0.1	0.4	0.0	-88.1%	+168.4%
Diluted shares, weighted	23m	23m	23m	+0.0%	+0.1%
Shares outstanding at period end	23m	23m	23m	+0.1%	+0.1%

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	233	203	162	+14.8%	+43.5%
Debt	36.1	71.0	96.7	-49.1%	-62.6%
Operating lease liabilities	52.5	53.7	51.0	-2.2%	+2.8%
Finance lease liabilities	1.2	1.2	1.3	-4.4%	-11.1%
Other liabilities	135	124	147	+8.3%	-8.7%
Total liabilities and equity	458	453	459	+0.9%	-0.3%
Goodwill	34.9	34.9	29.8	0.0%	+17.0%
Intangible assets	1.1	1.3	1.5	-20.0%	-30.7%
Cash and equivalents	72.0	70.1	49.0	+2.8%	+46.9%
Receivables	79.8	80.2	88.0	-0.5%	-9.3%
Inventory	123	128	152	-3.3%	-19.0%
Other assets	146	139	138	+5.1%	+5.8%
Total assets	458	453	459	+0.9%	-0.3%

Questions

What was Power Solutions International's revenue in Q3 FY2026?

Power Solutions International (PSIX) reported revenue of $202 million for Q3 FY2026, the quarter ended 30 September 2026, down 0.9% on the same quarter a year earlier.

How much did Power Solutions International earn in Q3 FY2026?

Net income for Q3 FY2026 was $30 million, up 8.4% on the year, and diluted earnings per share $1.30.

When did Power Solutions International report Q3 FY2026 results?

Power Solutions International filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 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	127	98.9	120	125	137	116	122	116	105	95.2	111	126	144	135	192	204	191	129	153	202
Cost of revenue	117	82.2	102	101	108	93.0	94.9	88.0	77.2	69.5	75.4	89.4	101	95.2	138	155	149	99.2	111	142
Gross profit	9.7	16.7	18.3	24.1	29.4	23.5	27.0	27.9	27.5	25.8	35.2	36.4	43.2	40.3	54.1	48.7	41.8	29.4	41.4	59.9
Gross margin	8%	17%	15%	19%	21%	20%	22%	24%	26%	27%	32%	29%	30%	30%	28%	24%	22%	23%	27%	30%
R&D	4.7	4.6	4.6	4.8	5.0	4.6	4.7	4.8	5.4	5.2	5.0	4.7	5.2	4.2	4.6	4.8	4.5	4.8	5.1	5.1
SG&A	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	16.7	15.3	n/a	n/a	12.1	13.7
Operating income	-5.6	0.2	3.2	7.2	13.9	8.5	11.3	12.1	12.3	10.7	25.3	20.5	25.2	24.6	32.5	28.4	24.2	11.4	23.9	40.9
Operating margin	-4%	0%	3%	6%	10%	7%	9%	10%	12%	11%	23%	16%	17%	18%	17%	14%	13%	9%	16%	20%
Interest expense	2.1	2.4	2.7	3.6	4.3	4.7	4.6	4.2	3.6	3.3	2.9	2.8	2.4	1.8	1.7	1.6	1.6	1.7	1.6	1.0
Pre-tax income	-7.7	-2.2	0.6	3.6	9.6	3.9	6.7	7.9	8.7	7.3	22.4	17.6	22.8	22.9	31.1	26.7	22.7	9.7	22.5	40.1
Tax rate	n/a	n/a	-138%	12%	3%	3%	4%	2%	4%	3%	4%	2%	-2%	17%	-65%	-3%	29%	25%	25%	25%
Net income	-7.6	-2.6	1.4	3.2	9.3	3.7	6.4	7.8	8.4	7.1	21.5	17.3	23.3	19.1	51.2	27.6	16.1	7.3	16.9	29.9
Net margin	-6%	-3%	1%	3%	7%	3%	5%	7%	8%	7%	19%	14%	16%	14%	27%	14%	8%	6%	11%	15%
Diluted EPS	-$0.34	-$0.11	$0.06	$0.14	$0.40	$0.16	$0.28	$0.34	$0.36	$0.31	$0.94	$0.75	$1.01	$0.83	$2.22	$1.20	$0.70	$0.32	$0.73	$1.30
Operating cash flow	-22.4	-17.4	-12.8	12.5	8.9	5.0	21.6	35.5	8.4	15.6	1.5	12.6	32.7	8.8	16.7	3.3	-4.6	19.1	56.6	40.9
Capital expenditure	n/a	0.1	0.4	0.5	0.4	0.6	0.6	1.4	2.4	0.8	0.7	0.4	2.6	3.4	2.0	1.5	3.0	1.9	0.8	2.6
Free cash flow	n/a	-17.5	-13.2	12.0	8.5	4.4	20.9	34.1	6.0	14.8	0.8	12.1	30.0	5.4	14.6	1.7	-7.6	17.2	55.7	38.3
Shares outstanding	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m
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 30 September 2026, filed 5 November 2026: the filing.