Filing Flows › Pershing Square (PS) › Q3 2026
Pershing Square (PS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Pershing Square (PS) reported revenue of $56.6M for the third quarter 2026 (Q3 2026), -14% from a year earlier and +4% from the quarter before. Operating margin was -35.5%, net loss $18.4M (32.5% of revenue).
Pershing Square, Q3 2026: revenue $56.6M (-14% year over year), operating margin -35.5%, net loss $18.4M, operating cash flow $58.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $56.6M | +4% | -14% |
| Operating profit | −$20.1M | — | — |
| Net earnings | −$18.4M | — | — |
| Operating cash flow | $58.4M | +130% | +93% |
What changed
Revenue was $56.6M in Q3 2026, down 14% year over year and up 4% from the previous quarter.
Operating costs exceeded revenue by $20.1M, an operating margin of -35.5%. Total costs grew 83% against a revenue fall of 14%. The fastest-growing cost line was Other operating costs (+129%). The quarter ended with a net loss of $18.4M, narrower than the previous quarter's $40.5M loss. Non-operating items added $14.8M, -280% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $58.4M (up 93% year over year). Non-cash charges added back $528K of depreciation and amortization. Working capital and other items added $76.2M.
Questions
What was Pershing Square's revenue in the third quarter 2026?
Pershing Square (PS) reported revenue of $56.6M for the third quarter 2026 (Q3 2026), -14% from a year earlier and +4% from the quarter before.
Was Pershing Square profitable in the third quarter 2026?
Operating loss was $20.1M (-35.5% of revenue) and net loss $18.4M.
Source: Pershing Square 10-Q on SEC EDGAR.