Filing Flows › Graham (GHM) › Q3 FY26
Graham (GHM) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 6, 2026
Graham (GHM) reported revenue of $56.7M for the third quarter fiscal 2026 (Q3 FY26), +21% from a year earlier and -14% from the quarter before. Operating margin was 5.5%, net earnings $2.8M (5.0% of revenue).
Graham, Q3 FY26: revenue $56.7M (+20% year over year), operating margin 5.5%, net earnings $2.8M, operating cash flow $4.8M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $56.7M | -14% | +21% |
| Gross profit | $13.5M | -6% | +15% |
| Operating profit | $3.1M | -27% | +41% |
| Net earnings | $2.8M | -8% | +79% |
| Operating cash flow | $4.8M | -65% | -9% |
| Free cash flow | $2.4M | -74% | — |
What changed
Revenue was $56.7M in Q3 FY26, up 21% year over year and down 14% from the previous quarter. Defense was the largest line at 62% of revenue. Defense added $8.3M year over year (up 31%), 85% of the total change. Space declined 18%.
Gross margin was 23.8%, down 1.1 points from a year earlier. Operating profit was $3.1M, a 5.5% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, above the 5% margin then. Operating expenses grew 9% against revenue growth of 21%. Net earnings were $2.8M, up 79% year over year. The effective tax rate was 11.2%.
Operating cash flow was $4.8M (down 9% year over year), 167% of net earnings. Non-cash charges added back $2.0M of depreciation and amortization and $642K of share-based compensation. Working capital and other items used $736K. Capital expenditures of $2.3M left free cash flow of $2.4M.
Questions
What was Graham's revenue in the third quarter fiscal 2026?
Graham (GHM) reported revenue of $56.7M for the third quarter fiscal 2026 (Q3 FY26), +21% from a year earlier and -14% from the quarter before.
Was Graham profitable in the third quarter fiscal 2026?
Operating profit was $3.1M (5.5% of revenue) and net earnings $2.8M.
Source: Graham 10-Q on SEC EDGAR.