Filing Flows › Esab (ESAB) › Q3 2026 › vs Q3 2025
Esab (ESAB) Q3 2026 vs Q3 2025 (year over year)
Esab's revenue rose $96.7M (+13%) from $728M in Q3 2025 to $825M in Q3 2026. The biggest changes: Equipment +$101M (+40%); Consumables −$3.9M (-0.8%). Gross margin 39.3% against 37.0% (+2.3 pts).
Esab, Q3 2026: revenue $825M (+13% year over year), operating margin 11.1%, net earnings $38.9M, operating cash flow $72.7M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 39.3% | 37.0% | +2.3 pts |
| Operating margin | 11.1% | 14.6% | -3.5 pts |
| Net margin | 4.7% | 7.5% | -2.8 pts |
| Free cash flow margin | 6.6% | 9.7% | -3.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Consumables | $474M | $478M | −$3.9M | -0.8% |
| Equipment | $351M | $250M | $101M | +40% |
| Revenue | $825M | $728M | $96.7M | +13% |
| Gross profit | $324M | $269M | $54.3M | +20% |
| Cost of revenue | $501M | $459M | $42.3M | +9% |
| Operating profit | $91.9M | $107M | −$14.7M | -14% |
| Operating expenses | $232M | $163M | $69.0M | +42% |
| Pre-tax earnings | $53.5M | $74.2M | −$20.7M | -28% |
| Other expense, net | $38.4M | $32.4M | $6.0M | +18% |
| Net earnings | $38.9M | $54.8M | −$15.9M | -29% |
| Minority interests | $1.4M | $1.7M | −$321K | -19% |
| Income tax | $13.3M | $17.7M | −$4.4M | -25% |
| Depreciation & amortization | $41.2M | $21.9M | $19.4M | +88% |
| Share-based compensation | $8.1M | $2.6M | $5.4M | +206% |
| Working capital & other | $15.6M | −$2.1M | $17.7M | — |
| Operating cash flow | $72.7M | $81.5M | −$8.8M | -11% |
| Free cash flow (OCF − capex) | $54.4M | $70.3M | −$15.9M | -23% |
| Capital expenditures | $18.3M | $11.2M | $7.1M | +63% |
Questions
How much did Esab's revenue grow year over year in Q3 2026?
Esab's revenue rose $96.7M (+13%) from $728M in Q3 2025 to $825M in Q3 2026.
What drove Esab's revenue change in Q3 2026?
Equipment +$101M (+40%); Consumables −$3.9M (-0.8%).