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Esab (ESAB) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Esab (ESAB) Q3 2026 earnings results →
Q3 2026 Revenue up 13% year over year to $825M · 5¢ of every $1 of revenue kept as net profit · operating margin 11.1%
Esab made $825M in Q3 2026 (+13% Y/Y): Consumables $474M, Equipment $351M. Operating margin 11.1%, net earnings $38.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
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 $824.5M in Q3 2026, up 13% year over year and up 2% from the previous quarter. Consumables was the largest line at 57% of revenue. Equipment added $100.6M year over year (up 40%), 104% of the total change. Consumables declined 1%.
Gross margin was 39.3%, up 2.3 points from Q3 2025. Operating profit was $91.9M, a 11.1% margin (down 3.5 points year over year). Operating profit fell $14.7M even though revenue rose $96.7M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 42% against revenue growth of 13%. Net earnings were $38.9M, down 29% year over year. The effective tax rate was 24.8%.
Operating cash flow was $72.7M (down 11% year over year), 180% of net income including minority interests. Non-cash charges added back $41.2M of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items used $16.9M. Capital expenditures of $18.3M left free cash flow of $54.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $825M | +13% | 11.1% | $38.9M | $72.7M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $808M | +13% | 9.7% | $32.4M | $33.4M |
| Q1 2026 | 10-Q | May 7, 2026 | $746M | +10% | 12.1% | $47.6M | $46.9M |
| Q4 2025 | 10-K | Feb 20, 2026 | $721M | +8% | 12.0% | $37.7M | $97.1M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $728M | +8% | 14.6% | $54.8M | $81.5M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $716M | +1% | 15.2% | $66.9M | $46.6M |
| Q1 2025 | 10-Q | May 1, 2025 | $678M | -2% | 16.2% | $67.4M | $35.4M |
Charts
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💵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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⚖️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 Esab
Founded in 1904, ESAB Corporation (“ESAB,” “we” or the “Company”), is a focused premier industrial compounder. ESAB provides its partners with fabrication technology advanced equipment, consumables, gas control equipment, robotics and digital solutions. The Company’s rich history of innovative products and workflow solutions and our business management system, ESAB Business Excellence (“EBXai”), enables the Company’s purpose of Shaping the world we imagine TM . We formulate, develop, manufacture and supply consumable products and equipment, including cutting, joining and welding robotics, as well as gas control equipment. Our products are marketed under several brand names, most notably ESAB, providing a wide range of products with innovative technologies to solve challenges in virtually any industry.
In its own words, from its 10-K, filed Feb 20, 2026.
Esab against its General Industrial Machinery & Equipment, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +17%. Operating margin: 11.1% against the peers' median 0.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ESAB Esab | Q3 2026 | $825M | +13% | 11.1% |
| RRX Regal Rexnord | Q3 2026 | $1.6B | +6% | 5.1% |
| NDSN Nordson | Q3 FY26 | $818M | +10% | 27.3% |
| SYM Symbotic | Q3 FY26 | $721M | +22% | 4.6% |
| OUST Ouster | Q3 2026 | $59.3M | +50% | -32.5% |
| CHRN ChronoScale Holdings | Q3 2026 | $41.5M | +148% | -60.0% |
| TAYD Taylor Devices | Q1 FY27 | $7.3M | -26% | 0.5% |
| SERV Serve Robotics | Q3 2026 | $2.8M | +313% | n/m |
| RR Richtech Robotics | Q3 FY26 | $1.4M | +17% | -966.3% |
Source: Esab 10-Q on SEC EDGAR · CIK 1877322 · General Industrial Machinery & Equipment, NEC
Guidance and outlook
13F: who owns ESAB and who is buying
More on ESAB
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results