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HMH Holding (HMH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · HMH Holding (HMH) Q3 2026 earnings results →
Q3 2026 Revenue down 21% year over year to $171M · 3¢ of every $1 of revenue kept as net profit · operating margin 12.8%
HMH Holding made $171M in Q3 2026 (-21% Y/Y): Service revenue $97.1M, Spare parts revenue $57.2M, Product revenue $16.8M. Operating margin 12.8%, net earnings $5.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $171.1M in Q3 2026, down 21% year over year and roughly flat from the previous quarter. Service revenue was the largest line at 57% of revenue. Sale of products lost $30.4M year over year (down 80%), 66% of the total change.
Operating profit was $21.8M, a 12.8% margin (down 0.2 points year over year). Total costs fell 21% while revenue fell 21%. The fastest-growing cost line was Research & development (+127%). Net earnings were $5.0M, down 69% year over year. The effective tax rate was 41.0%.
Operating cash flow was −$6.2M. Non-cash charges added back $10.6M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $29.5M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$7.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $171M | -21% | 12.8% | $5.0M | −$6.2M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $171M | -16% | -2.8% | −$5.0M | — |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About HMH Holding
HMH is a leading provider of highly engineered, mission-critical equipment solutions, providing customers with a comprehensive portfolio of drilling equipment, services and systems utilized in oil and gas drilling operations, both offshore and onshore. HMH’s global reach, technical expertise and innovative product offerings, coupled with its integrated operations from manufacturing to aftermarket services, allow HMH to provide customers with first-class technology, engineering, and project management services through the entire asset lifecycle of the equipment it provides. In addition, HMH is growing its portfolio of products and services to adjacent industries, such as mining. The complexity and criticality of HMH’s installed equipment drive customers to choose HMH for their aftermarket support, particularly in the offshore environment, which is subject to extensive regulation.
In its own words, from its 8-K, filed Aug 5, 2026.
HMH Holding against its Oil & Gas Field Machinery & Equipment peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -21% against the peers' median +10%. Operating margin: 12.8% against the peers' median 12.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HMH HMH Holding | Q3 2026 | $171M | -21% | 12.8% |
| BKR Baker Hughes | Q3 2026 | $8.0B | +14% | 6.5% |
| FTI TechnipFMC | Q3 2026 | $2.9B | +9% | 19.5% |
| NOV NOV | Q3 2026 | $2.2B | +2% | 6.4% |
| DNOW Dnow | Q3 2026 | $1.3B | +111% | 2.5% |
| WFRD Weatherford International | Q3 2026 | $1.1B | -7% | 13.4% |
| WHD Cactus | Q3 2026 | $431M | +63% | 21.8% |
| SEI Solaris Energy Infrastructure | Q3 2026 | $341M | +104% | 19.6% |
| INVX Innovex International | Q3 2026 | $265M | +10% | 12.2% |
Source: HMH Holding 10-Q on SEC EDGAR · CIK 2021880 · Oil & Gas Field Machinery & Equipment
Guidance and outlook
13F: who owns HMH and who is buying
More on HMH
History
Every quarter: Q3 2026 results · Q2 2026 results