Filing Flows › TPG (TPG) › Q3 2026
TPG (TPG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
TPG (TPG) reported revenue of $1.2B for the third quarter 2026 (Q3 2026), -0.2% from a year earlier and -34% from the quarter before. Operating margin was 26.4%, net earnings $99.6M (8.2% of revenue).
TPG, Q3 2026: revenue $1.2B (-0.2% year over year), operating margin 26.4%, net earnings $99.6M, operating cash flow $249M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | -34% | -0.2% |
| Operating profit | $322M | -10% | +41% |
| Net earnings | $99.6M | +7% | +48% |
| Operating cash flow | $249M | -29% | -49% |
What changed
Revenue was $1.2B in Q3 2026, roughly flat year over year and down 34% from the previous quarter. Management fees was the largest line at 47% of revenue. Expense reimbursements and other lost $0.01B year over year (down 15%), 487% of the total change.
Operating profit was $0.32B, a 26.4% margin (up 7.7 points year over year). Total costs fell 10% while revenue was flat. Net earnings were $0.10B, up 48% year over year. The effective tax rate was 18.0%.
Operating cash flow was $0.25B (down 49% year over year), 94% of net income including minority interests. Non-cash charges added back $0.04B of depreciation and amortization and $0.21B of share-based compensation. Working capital and other items used $0.27B.
Questions
What was TPG's revenue in the third quarter 2026?
TPG (TPG) reported revenue of $1.2B for the third quarter 2026 (Q3 2026), -0.2% from a year earlier and -34% from the quarter before.
Was TPG profitable in the third quarter 2026?
Operating profit was $322M (26.4% of revenue) and net earnings $99.6M.
Source: TPG 10-Q on SEC EDGAR.