Filing Flows › Bowhead Specialty Holdings (BOW) › Q3 2026
Bowhead Specialty Holdings (BOW) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Bowhead Specialty Holdings (BOW) reported revenue of $172M for the third quarter 2026 (Q3 2026), +19% from a year earlier and +5% from the quarter before. Operating margin was 9.3%, net earnings $12.9M (7.5% of revenue).
Bowhead Specialty Holdings, Q3 2026: revenue $172M (+19% year over year), operating margin 9.3%, net earnings $12.9M, operating cash flow $193M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $172M | +5% | +19% |
| Operating profit | $15.9M | -23% | -17% |
| Net earnings | $12.9M | -20% | -15% |
| Operating cash flow | $193M | +105% | +68% |
| Free cash flow | $191M | +107% | +69% |
What changed
Revenue was $171.8M in Q3 2026, up 19% year over year and up 5% from the previous quarter.
Operating profit was $15.9M, a 9.3% margin (down 4.0 points year over year). Operating profit fell $3.2M even though revenue rose $27.8M versus Q3 2025, so costs grew faster than sales. Total costs grew 25% against revenue growth of 19%. Net earnings were $12.9M, down 15% year over year. The effective tax rate was 18.7%.
Operating cash flow was $192.6M (up 68% year over year), 1488% of net earnings. Non-cash charges added back $785K of depreciation and amortization and $2.9M of share-based compensation. Working capital and other items added $176.0M. Capital expenditures of $1.3M left free cash flow of $191.3M.
Questions
What was Bowhead Specialty Holdings' revenue in the third quarter 2026?
Bowhead Specialty Holdings (BOW) reported revenue of $172M for the third quarter 2026 (Q3 2026), +19% from a year earlier and +5% from the quarter before.
Was Bowhead Specialty Holdings profitable in the third quarter 2026?
Operating profit was $15.9M (9.3% of revenue) and net earnings $12.9M.