Filing Flows › Graham Holdings (GHC) › Q3 2026
Graham Holdings (GHC) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Graham Holdings (GHC) reported revenue of $1.3B for the third quarter 2026 (Q3 2026), +4% from a year earlier and +2% from the quarter before. Operating margin was 6.4%, net earnings $75.1M (5.7% of revenue).
Graham Holdings, Q3 2026: revenue $1.3B (+4% year over year), operating margin 6.4%, net earnings $75.1M, operating cash flow $160M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +2% | +4% |
| Operating profit | $85.5M | +2% | +27% |
| Net earnings | $75.1M | -73% | -39% |
| Operating cash flow | $160M | — | -10% |
| Free cash flow | $135M | — | -17% |
What changed
Revenue was $1.3B in Q3 2026, up 4% year over year and up 2% from the previous quarter. Goods was the largest line at 50% of revenue. Goods added $0.09B year over year (up 15%), 186% of the total change. Services declined 6%.
Operating profit was $0.09B, a 6.4% margin (up 1.2 points year over year). Of the extra revenue versus Q3 2025, 39% reached operating profit, above the 5% margin then. Total costs grew 2% against revenue growth of 4%. Net earnings were $0.08B, down 39% year over year. The effective tax rate was 22.1%.
Operating cash flow was $0.16B (down 10% year over year), 208% of net income including minority interests. Non-cash charges added back $0.02B of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $0.03B left free cash flow of $0.13B.
Questions
What was Graham Holdings' revenue in the third quarter 2026?
Graham Holdings (GHC) reported revenue of $1.3B for the third quarter 2026 (Q3 2026), +4% from a year earlier and +2% from the quarter before.
Was Graham Holdings profitable in the third quarter 2026?
Operating profit was $85.5M (6.4% of revenue) and net earnings $75.1M.
Source: Graham Holdings 10-Q on SEC EDGAR.