Filing Flows › Mesabi Trust (MSB) › Q2 FY26
Mesabi Trust (MSB) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 15, 2025
Mesabi Trust (MSB) reported revenue of $5.6M for the second quarter fiscal 2026 (Q2 FY26), -14% from a year earlier and +18% from the quarter before. Operating margin was 84.6%, net earnings $4.7M (84.6% of revenue).
Mesabi Trust, Q2 FY26: revenue $5.6M (-14% year over year), operating margin 84.6%, net earnings $4.7M, operating cash flow $4.4M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.6M | +18% | -14% |
| Operating profit | $4.7M | +31% | -12% |
| Net earnings | $4.7M | +31% | -12% |
| Operating cash flow | $4.4M | +110% | +15% |
What changed
Revenue was $5.6M in Q2 FY26, down 14% year over year and up 18% from the previous quarter.
Operating profit was $4.7M, a 84.6% margin (up 1.4 points year over year). Total costs fell 21% while revenue fell 14%. Net earnings were $4.7M, down 12% year over year. The effective tax rate was 0.0%.
Operating cash flow was $4.4M (up 15% year over year), 92% of net earnings. Working capital and other items used $369K.
Questions
What was Mesabi Trust's revenue in the second quarter fiscal 2026?
Mesabi Trust (MSB) reported revenue of $5.6M for the second quarter fiscal 2026 (Q2 FY26), -14% from a year earlier and +18% from the quarter before.
Was Mesabi Trust profitable in the second quarter fiscal 2026?
Operating profit was $4.7M (84.6% of revenue) and net earnings $4.7M.
Source: Mesabi Trust 10-Q on SEC EDGAR.