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Eastern Gas Transmission & Storage earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 9, 2026
Q3 2026 Revenue up 7% year over year to $7.7B · 21¢ of every $1 of revenue kept as net profit · operating margin 23.3%
Eastern Gas Transmission & Storage made $7.7B in Q3 2026 (+7% Y/Y): Energy $6.6B, Real estate $1.2B. Operating margin 23.3%, net earnings $1.6B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 9, 2026.
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What changed this quarter
Revenue was $7.7B in Q3 2026, up 7% year over year. Energy was the largest line at 85% of revenue. Energy added $0.53B year over year (up 9%), 106% of the total change. Real estate declined 3%.
Operating profit was $1.8B, a 23.3% margin (up 2.7 points year over year). Of the extra revenue versus Q3 2025, 62% reached operating profit, above the 21% margin then. Total costs grew 3% against revenue growth of 7%. Net earnings were $1.6B, up 8% year over year. The effective tax rate was -53.2%.
Operating cash flow was $3.0B (up 12% year over year), 180% of net income including minority interests. Non-cash charges added back $1.1B of depreciation and amortization. Working capital and other items added $0.19B. Capital expenditures of $2.6B left free cash flow of $0.39B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 9, 2026 | $7.7B | +7% | 23.3% | $1.6B | $3.0B |
| Q2 2026 | 10-Q | Aug 10, 2026 | $6.7B | +5% | 19.1% | $891M | $3.3B |
| Q1 2026 | 10-Q | May 4, 2026 | $6.7B | +5% | 21.9% | $1.1B | $1.4B |
| Q4 2025 | 10-K | Mar 2, 2026 | $6.2B | -0.1% | 15.5% | $691M | $1.4B |
| Q3 2025 | 10-Q | Nov 3, 2025 | $7.2B | +0.5% | 20.7% | $1.5B | $2.6B |
| Q2 2025 | 10-Q | Aug 4, 2025 | $6.4B | -0.2% | 15.7% | $702M | — |
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About Eastern Gas Transmission & Storage
BHE, a wholly owned subsidiary of Berkshire Hathaway, is a holding company headquartered in Iowa that has investments in a highly diversified portfolio of locally managed and operated businesses principally engaged in the energy industry. The Company's operations are organized as eight business segments: PacifiCorp, MidAmerican Funding (which primarily consists of MidAmerican Energy), NV Energy (which primarily consists of Nevada Power and Sierra Pacific), Northern Powergrid (which primarily consists of Northern Powergrid (Northeast) plc and Northern Powergrid (Yorkshire) plc), BHE Pipeline Group (which primarily consists of BHE GT&S, Northern Natural Gas and Kern River), BHE Transmission (which consists of BHE Canada (which primarily consists of AltaLink) and BHE U.S. Transmission), BHE Renewables and HomeServices.
In its own words, from its 10-K, filed Mar 2, 2026.
Eastern Gas Transmission & Storage against its Natural Gas Transmission peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +25%. Operating margin: 23.3% against the peers' median 25.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Eastern Gas Transmission & Storage | Q3 2026 | $7.7B | +7% | 23.3% |
| ET Energy Transfer LP | Q3 2026 | $37.1B | +86% | 7.5% |
| EPD Enterprise Products Partners L.P. | Q3 2026 | $17.9B | +49% | 11.1% |
| NGG National Grid | H1 FY27 | $10.9B | +15% | 29.0% |
| TRGP Targa Resources | Q3 2026 | $5.6B | +35% | 19.6% |
| KMI Kinder Morgan | Q3 2026 | $4.5B | +9% | 25.6% |
| Northwest Pipeline LLC | Q3 2026 | $3.2B | +10% | 35.2% |
| Western Midstream Operating, LP | Q2 2026 | $1.2B | +30% | 43.0% |
| WES Western Midstream Partners, LP | Q3 2026 | $1.2B | +25% | 38.6% |
Source: Eastern Gas Transmission & Storage 10-Q on SEC EDGAR · CIK 1936737 · Natural Gas Transmission