Filing Flows › Lazard (LAZ) › Q3 2026 › vs Q2 2026
Lazard (LAZ) Q3 2026 vs Q2 2026 (quarter over quarter)
Lazard's revenue rose $6.2M (+0.7%) from $830M in Q2 2026 to $836M in Q3 2026. Operating margin 6.5% against 4.5% (+2.0 pts).
Lazard, Q3 2026: revenue $836M (+8% year over year), operating margin 6.5%, net earnings $29.2M, operating cash flow $316M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 6.5% | 4.5% | +2.0 pts |
| Net margin | 3.5% | 0.6% | +2.9 pts |
| Free cash flow margin | 37.2% | 24.0% | +13.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $836M | $830M | $6.2M | +0.7% |
| Operating profit | $54.8M | $37.6M | $17.1M | +46% |
| Costs & expenses | $782M | $793M | −$11.0M | -1% |
| Pre-tax earnings | $54.8M | $37.6M | $17.1M | +46% |
| Sales & marketing | $27.5M | $34.4M | −$6.9M | -20% |
| Other operating costs | $754M | $758M | −$4.1M | -0.5% |
| Net earnings | $29.2M | $4.8M | $24.4M | +506% |
| Minority interests | $510K | $8.9M | −$8.4M | -94% |
| Income tax | $25.1M | $23.9M | $1.2M | +5% |
| Depreciation & amortization | $7.4M | $7.4M | $7K | +0.1% |
| Share-based compensation | $103M | $129M | −$26.0M | -20% |
| Working capital & other | $177M | $61.9M | $115M | +185% |
| Operating cash flow | $316M | $203M | $113M | +56% |
| Free cash flow (OCF − capex) | $311M | $199M | $111M | +56% |
| Capital expenditures | $5.6M | $3.9M | $1.7M | +43% |
Questions
How much did Lazard's revenue grow quarter over quarter in Q3 2026?
Lazard's revenue rose $6.2M (+0.7%) from $830M in Q2 2026 to $836M in Q3 2026. Operating margin 6.5% against 4.5% (+2.0 pts).