Filing Flows › Cohen & Steers (CNS) › Q3 2026
Cohen & Steers (CNS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 30, 2026
Cohen & Steers (CNS) reported revenue of $157M for the third quarter 2026 (Q3 2026), +11% from a year earlier and +3% from the quarter before. Operating margin was 32.4%, net earnings $42.2M (26.8% of revenue).
Cohen & Steers, Q3 2026: revenue $157M (+11% year over year), operating margin 32.4%, net earnings $42.2M, operating cash flow $20.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $157M | +3% | +11% |
| Operating profit | $51.1M | -3% | +4% |
| Net earnings | $42.2M | -14% | +1% |
| Operating cash flow | $20.9M | -69% | -62% |
| Free cash flow | $20.0M | — | -62% |
What changed
Revenue was $157.4M in Q3 2026, up 11% year over year and up 3% from the previous quarter. Open-end funds was the largest line at 59% of revenue. Open-end funds added $10.2M year over year (up 12%), 65% of the total change.
Operating profit was $51.1M, a 32.4% margin (down 2.1 points year over year). Of the extra revenue versus Q3 2025, 14% reached operating profit, below the 35% margin then. Total costs grew 15% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+17%). Net earnings were $42.2M, up 1% year over year ($40.8M including minority interests, which bore $1.4M of losses). The effective tax rate was 27.1%.
Operating cash flow was $20.9M (down 62% year over year), 51% of net income including minority interests. Non-cash charges added back $2.7M of depreciation and amortization and $10.8M of share-based compensation. Working capital and other items used $33.4M. Capital expenditures of $879K left free cash flow of $20.0M.
Questions
What was Cohen & Steers' revenue in the third quarter 2026?
Cohen & Steers (CNS) reported revenue of $157M for the third quarter 2026 (Q3 2026), +11% from a year earlier and +3% from the quarter before.
Was Cohen & Steers profitable in the third quarter 2026?
Operating profit was $51.1M (32.4% of revenue) and net earnings $42.2M.
Source: Cohen & Steers 10-Q on SEC EDGAR.