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Burke & Herbert Financial Services (BHRB) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Burke & Herbert Financial Services (BHRB) Q3 2026 earnings results →

Q3 2026 Revenue up 40% year over year to $120M · 30¢ of every $1 of revenue kept as net profit · operating margin 37.2%

Burke & Herbert Financial Services made $120M in Q3 2026 (+40% Y/Y): Net interest income $105M, Noninterest income $14.7M. Operating margin 37.2%, net earnings $36.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$120M
Year over year+40%
Operating margin37.2%
Net earnings$36.4M
Operating cash flow$42.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $119.7M in Q3 2026, up 40% year over year and up 12% from the previous quarter. Net interest income was the largest line at 88% of revenue. Net interest income added $31.2M year over year (up 42%), 91% of the total change.

Operating profit was $44.6M, a 37.2% margin (down 6.1 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, below the 43% margin then. Total costs grew 55% against revenue growth of 40%. Net earnings were $36.4M, up 21% year over year. The effective tax rate was 18.3%.

Operating cash flow was $42.3M (up 8% year over year), 116% of net earnings. Non-cash charges added back $2.2M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $2.3M. Capital expenditures of −$1.2M left free cash flow of $43.5M.

Quarterly history

QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 6, 2026$120M+40%37.2%$36.4M$42.3M

Charts

Burke & Herbert Financial Services: where the cash came from (+) and went (−), TTM to Q3 2026Burke & Herbert Financial Services: where the cash came from (+) and went (−), TTM to Q3 2026Net borrowing (+) / repaid (−)−$100MOperating cash flow$100MOther investing−$94.4MOther financing$78.7MAcquisitions$73.2MDividends−$39.6MCash drawn (+) / kept (−)−$12.7MCapital spending−$5.5MShares issued$635K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Burke & Herbert Financial Services: profit against cash, quarter by quarterBurke & Herbert Financial Services: profit against cash, quarter by quarterNet incomeOperating cash flow$19.8M$76.9MQ4 2024$27.2M$37.6MQ1 2025$29.9M$41KQ2 2025$30.0M$39.3MQ3 2025$30.2M$30.9MQ4 2025$27.3M$26.5MQ1 2026$9.5M$313KQ2 2026$36.4M$42.3MQ3 2026
Latest (Q3 2026): Net income $36.4M, Operating cash flow $42.3M.
Burke & Herbert Financial Services: diluted shares by fiscal yearBurke & Herbert Financial Services: diluted shares by fiscal year7MFY20217MFY20228MFY202312MFY202415MFY2025
+102.9% since FY2021: more shares outstanding (issuance, stock pay).
Burke & Herbert Financial Services in its industry: growth against margin (68 companies, SIC 6021)Burke & Herbert Financial Services in its industry: growth against margin (68 companies, SIC 6021)revenue growth, year over year →↑ operating marginmedian +8%median 37%JPMBACCWFCCOFUSBPNCTFCHBANKEYPNFPHSBC USA IncZIONUMBFWebster Financial CorpONBCFRVLYBOKFBANCFNBFHNFULTWSFSFFBCWSBCCBUPRKTRMKWAFDFRMENBTBCASHBANFOCFCNWBITBBKNICHOPEFCFDCOMNBHCAMTBWBHCCHCOALRSHAFCNEWTCACCBNKBFCFMCBWABCSHBIPFISCAREBCALSFSTMRBKFDBCFNLCFUNCLCNBATLOCFBKASRVNKSHBHRB (+40%, 37%)
National Commercial Banks; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. was organized as a Virginia corporation in 2022 to serve as the holding company for Burke & Herbert Bank & Trust Company. The Company became a bank holding company when it commenced operations on October 1, 2022, following a reorganization transaction in which it acquired control of the Bank under the Bank Holding Company Act of 1956 (“BHCA”). This transaction was treated as an internal reorganization as all shareholders of the Bank became shareholders of the Company. The Company has no material operations other than owning the Bank. In September 2023, the Company elected to become a financial holding company under the BHCA.

In its own words, from its 10-K, filed Feb 27, 2026.

Burke & Herbert Financial Services against its National Commercial Banks peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +40% against the peers' median +8%. Operating margin: 37.2% against the peers' median 32.5%.

CompanyQuarterRevenueY/YOp. margin
BHRB Burke & Herbert Financial ServicesQ3 2026$120M+40%37.2%
JPM JPMorgan ChaseQ3 2026$50.2B+8%40.1%
BAC Bank of AmericaQ3 2026$30.0B+3%29.9%
C CitigroupQ3 2026$23.8B+8%30.6%
WFC Wells FargoQ3 2026$21.9B+2%32.5%
COF Capital One FinancialQ3 2026$16.3B+6%28.0%
USB US BancorpQ3 2026$8.0B+9%35.1%
PNC PNC Financial Services GroupQ3 2026$6.6B+11%40.0%
TFC Truist FinancialQ3 2026$3.7B-28%23.9%

Source: Burke & Herbert Financial Services 10-Q on SEC EDGAR · CIK 1964333 · National Commercial Banks

Guidance and outlook

Burke & Herbert Financial Services: what its forward-looking statements are about (10-Q filed 2026-11-06)Burke & Herbert Financial Services: what its forward-looking statements are about (10-Q filed 2026-11-06)Other9The economy3Costs2Demand2Financing1Legal & regulation1
18 statements; tone -0.33 (−1 all cautious, +1 all confident); 7 hedged.
Burke & Herbert Financial Services: outlook statements against the filing beforeBurke & Herbert Financial Services: outlook statements against the filing beforeConfident3Cautious9

13F: who owns BHRB and who is buying

Largest holders of BHRB (13F)Largest holders of BHRB (13F)BlackRock$87.6MVanguard Capital Management LLC$53.9MVanguard Group$48.6MState Street$40.1MAmerican Century Companies$35.2MGeode Capital Management, LLC$33.2MEndeavour Capital Advisors$33.0MDimensional Fund Advisors LP$32.5MAlliancebernstein L.P.$20.3MHutchinson Capital Management$18.6M
Funds' net buying of BHRB by quarter (13F)Funds' net buying of BHRB by quarter (13F)$2.7M2024-09$4.3M2024-12−$288K2025-03$13.3M2025-06$18.7M2025-09$7.9M2025-12$51.1M2026-03$149M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BHRB

History

Every quarter: Q3 2026 results

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中文版：Burke & Herbert Financial Services（BHRB）财报

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