Filing Flows › Esab (ESAB) › Q1 2026
Esab (ESAB) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Esab (ESAB) reported revenue of $746M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +3% from the quarter before. Operating margin was 12.1%, net earnings $47.6M (6.4% of revenue).
Esab, Q1 2026: revenue $746M (+10% year over year), operating margin 12.1%, net earnings $47.6M, operating cash flow $46.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $746M | +3% | +10% |
| Gross profit | $275M | +7% | +8% |
| Operating profit | $90.5M | +4% | -18% |
| Net earnings | $47.6M | +26% | -29% |
| Operating cash flow | $46.9M | -52% | +32% |
| Free cash flow | $33.2M | -57% | +18% |
What changed
Revenue was $745.6M in Q1 2026, up 10% year over year and up 3% from the previous quarter. Consumables was the largest line at 64% of revenue. Consumables added $35.2M year over year (up 8%), 52% of the total change.
Gross margin was 36.9%, down 0.7 points from Q1 2025. Operating profit was $90.5M, a 12.1% margin (down 4.1 points year over year). Operating profit fell $19.4M even though revenue rose $67.5M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 27% against revenue growth of 10%. Net earnings were $47.6M, down 29% year over year. The effective tax rate was 21.0%.
Operating cash flow was $46.9M (up 32% year over year), 95% of net income including minority interests. Non-cash charges added back $23.9M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items used $30.1M. Capital expenditures of $13.7M left free cash flow of $33.2M.
Questions
What was Esab's revenue in the first quarter 2026?
Esab (ESAB) reported revenue of $746M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +3% from the quarter before.
Was Esab profitable in the first quarter 2026?
Operating profit was $90.5M (12.1% of revenue) and net earnings $47.6M.
Source: Esab 10-Q on SEC EDGAR.