Filing Flows › Esab (ESAB) › Q2 2026 › vs Q1 2026
Esab (ESAB) Q2 2026 vs Q1 2026 (quarter over quarter)
Esab's revenue rose $62.0M (+8%) from $746M in Q1 2026 to $808M in Q2 2026. The biggest changes: Equipment +$48.3M (+18%); Consumables +$13.7M (+3%). Gross margin 38.0% against 36.9% (+1.1 pts).
Esab, Q2 2026: revenue $808M (+13% year over year), operating margin 9.7%, net earnings $32.4M, operating cash flow $33.4M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 38.0% | 36.9% | +1.1 pts |
| Operating margin | 9.7% | 12.1% | -2.4 pts |
| Net margin | 4.0% | 6.4% | -2.4 pts |
| Free cash flow margin | 1.9% | 4.5% | -2.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Consumables | $495M | $481M | $13.7M | +3% |
| Equipment | $313M | $265M | $48.3M | +18% |
| Revenue | $808M | $746M | $62.0M | +8% |
| Gross profit | $307M | $275M | $32.1M | +12% |
| Cost of revenue | $500M | $470M | $29.9M | +6% |
| Operating profit | $78.7M | $90.5M | −$11.8M | -13% |
| Operating expenses | $228M | $185M | $43.9M | +24% |
| Pre-tax earnings | $45.7M | $62.3M | −$16.7M | -27% |
| Other expense, net | $33.0M | $28.1M | $4.9M | +17% |
| Net earnings | $32.4M | $47.6M | −$15.3M | -32% |
| Minority interests | $1.6M | $1.6M | $41K | +3% |
| Income tax | $11.7M | $13.1M | −$1.4M | -11% |
| Operating cash sources | $66.7M | $75.5M | −$8.8M | -12% |
| Depreciation & amortization | $27.9M | $23.9M | $4.0M | +17% |
| Share-based compensation | $6.4M | $3.9M | $2.5M | +63% |
| Working capital & other | $33.2M | $28.5M | $4.7M | +16% |
| Operating cash flow | $33.4M | $46.9M | −$13.5M | -29% |
| Free cash flow (OCF − capex) | $15.7M | $33.2M | −$17.5M | -53% |
| Capital expenditures | $17.7M | $13.7M | $4.0M | +29% |
Questions
How much did Esab's revenue grow quarter over quarter in Q2 2026?
Esab's revenue rose $62.0M (+8%) from $746M in Q1 2026 to $808M in Q2 2026.
What drove Esab's revenue change in Q2 2026?
Equipment +$48.3M (+18%); Consumables +$13.7M (+3%).