Filing Flows › Mechanics Bancorp (MCHB) › Q1 2026
Mechanics Bancorp (MCHB) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Mechanics Bancorp (MCHB) reported revenue of $200M for the first quarter 2026 (Q1 2026), +39% from a year earlier and -23% from the quarter before. Operating margin was 30.9%, net earnings $44.1M (22.0% of revenue).
Mechanics Bancorp, Q1 2026: revenue $200M (+40% year over year), operating margin 30.9%, net earnings $44.1M, operating cash flow $11.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $200M | -23% | +39% |
| Operating profit | $61.9M | -60% | +0.7% |
| Net earnings | $44.1M | -65% | +0.7% |
| Operating cash flow | $11.4M | -90% | — |
| Free cash flow | $8.8M | -92% | — |
What changed
Revenue was $200.1M in Q1 2026, up 39% year over year and down 23% from the previous quarter.
Operating profit was $61.9M, a 30.9% margin (down 11.9 points year over year). Of the extra revenue versus Q1 2025, 1% reached operating profit, below the 43% margin then. Total costs grew 69% against revenue growth of 39%. Net earnings were $44.1M, up 1% year over year. The effective tax rate was 28.7%.
Operating cash flow was $11.4M, 26% of net earnings. Non-cash charges added back $10.6M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $44.6M. Capital expenditures of $2.6M left free cash flow of $8.8M.
Questions
What was Mechanics Bancorp's revenue in the first quarter 2026?
Mechanics Bancorp (MCHB) reported revenue of $200M for the first quarter 2026 (Q1 2026), +39% from a year earlier and -23% from the quarter before.
Was Mechanics Bancorp profitable in the first quarter 2026?
Operating profit was $61.9M (30.9% of revenue) and net earnings $44.1M.
Source: Mechanics Bancorp 10-Q on SEC EDGAR.