Filing Flows › Tennessee Valley Authority (TVE) › Q1 FY26
Tennessee Valley Authority (TVE) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 3, 2026
Tennessee Valley Authority (TVE) reported revenue of $3.0B for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -22% from the quarter before. Operating margin was 18.1%, net earnings $266M (8.7% of revenue).
Tennessee Valley Authority, Q1 FY26: revenue $3.0B (+4% year over year), operating margin 18.1%, net earnings $266M, operating cash flow $330M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -22% | +4% |
| Operating profit | $552M | -40% | +34% |
| Net earnings | $266M | -57% | +113% |
| Operating cash flow | $330M | -74% | -27% |
What changed
Revenue was $3.0B in Q1 FY26, up 4% year over year and down 22% from the previous quarter.
Operating profit was $0.55B, a 18.1% margin (up 4.0 points year over year). Of the extra revenue versus a year earlier, 108% reached operating profit, above the 14% margin then. Total costs fell 0% while revenue rose 4%. Net earnings were $0.27B, up 113% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.33B (down 27% year over year), 124% of net earnings. Non-cash charges added back $0.58B of depreciation and amortization. Working capital and other items used $0.51B. Capital expenditures of $1.1B exceeded it, leaving free cash flow of −$0.81B.
Questions
What was Tennessee Valley Authority's revenue in the first quarter fiscal 2026?
Tennessee Valley Authority (TVE) reported revenue of $3.0B for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -22% from the quarter before.
Was Tennessee Valley Authority profitable in the first quarter fiscal 2026?
Operating profit was $552M (18.1% of revenue) and net earnings $266M.