Filing Flows › McGraw Hill (MH) › Q1 FY26
McGraw Hill (MH) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Aug 14, 2025
McGraw Hill (MH) reported revenue of $536M for the first quarter fiscal 2026 (Q1 FY26), +2% from a year earlier and +13% from the quarter before. Operating margin was 18.0%, net earnings $502K (0.1% of revenue).
McGraw Hill, Q1 FY26: revenue $536M (+2% year over year), operating margin 18.0%, net earnings $502K, operating cash flow −$96.7M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $536M | +13% | +2% |
| Gross profit | $412M | +4% | +4% |
| Operating profit | $96.2M | +246% | +27% |
| Net earnings | $502K | — | — |
| Operating cash flow | −$96.7M | — | — |
What changed
Revenue was $535.7M in Q1 FY26, up 2% year over year and up 13% from the previous quarter. Digital was the largest line at 61% of revenue. Digital added $21.8M year over year (up 7%), 171% of the total change. Print declined 4%.
Gross margin was 77.0%, up 0.9 points from a year earlier. Operating profit was $96.2M, a 18.0% margin (up 3.5 points year over year). Of the extra revenue versus a year earlier, 160% reached operating profit, above the 14% margin then. Operating expenses fell 2% while revenue rose 2%. Net earnings were $502K. The effective tax rate was 98.7%.
Operating cash flow was −$96.7M. Non-cash charges added back $87.9M of depreciation and amortization. Working capital and other items used $185.0M. Capital expenditures of $16.3M exceeded it, leaving free cash flow of −$112.9M.
Questions
What was McGraw Hill's revenue in the first quarter fiscal 2026?
McGraw Hill (MH) reported revenue of $536M for the first quarter fiscal 2026 (Q1 FY26), +2% from a year earlier and +13% from the quarter before.
Was McGraw Hill profitable in the first quarter fiscal 2026?
Operating profit was $96.2M (18.0% of revenue) and net earnings $502K.
Source: McGraw Hill 10-Q on SEC EDGAR.