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Tennessee Valley Authority (TVE) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Aug 4, 2026
Tennessee Valley Authority (TVE) reported revenue of $3.4B for the third quarter fiscal 2026 (Q3 FY26), +4% from a year earlier and -3% from the quarter before. Operating margin was 17.8%, net earnings $307M (8.9% of revenue).
Tennessee Valley Authority, Q3 FY26: revenue $3.4B (+4% year over year), operating margin 17.8%, net earnings $307M, operating cash flow $777M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.4B | -3% | +4% |
| Operating profit | $611M | -14% | +18% |
| Net earnings | $307M | -22% | +45% |
| Operating cash flow | $777M | +0.1% | +26% |
What changed
Revenue was $3.4B in Q3 FY26, up 4% year over year and down 3% from the previous quarter.
Operating profit was $0.61B, a 17.8% margin (up 2.1 points year over year). Of the extra revenue versus Q3 FY25, 69% reached operating profit, above the 16% margin then. Total costs grew 2% against revenue growth of 4%. Net earnings were $0.31B, up 45% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.78B (up 26% year over year), 253% of net earnings. Non-cash charges added back $0.46B of depreciation and amortization. Capital expenditures of $0.88B exceeded it, leaving free cash flow of −$0.10B.
Questions
What was Tennessee Valley Authority's revenue in the third quarter fiscal 2026?
Tennessee Valley Authority (TVE) reported revenue of $3.4B for the third quarter fiscal 2026 (Q3 FY26), +4% from a year earlier and -3% from the quarter before.
Was Tennessee Valley Authority profitable in the third quarter fiscal 2026?
Operating profit was $611M (17.8% of revenue) and net earnings $307M.