Filing Flows › United States 12 Month Oil Fund, LP (USL) › Q3 2026
United States 12 Month Oil Fund, LP (USL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
United States 12 Month Oil Fund, LP (USL) reported revenue of $10.7M for the third quarter 2026 (Q3 2026), up 21-fold from a year earlier. Operating margin was 98.8%, net earnings $10.5M (98.8% of revenue).
United States 12 Month Oil Fund, LP, Q3 2026: revenue $10.7M (21× year over year), operating margin 98.8%, net earnings $10.5M, operating cash flow $646K. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.7M | — | 21× |
| Operating profit | $10.5M | — | 28× |
| Net earnings | $10.5M | — | 28× |
| Operating cash flow | $646K | — | — |
What changed
Revenue was $10.7M in Q3 2026, up 2044% year over year.
Operating profit was $10.5M, a 98.8% margin (up 23.6 points year over year). Of the extra revenue versus Q3 2025, 100% reached operating profit, above the 75% margin then. Total costs grew 0% against revenue growth of 2044%. Net earnings were $10.5M, up 2718% year over year. The effective tax rate was 0.0%.
Operating cash flow was $646K, 6% of net earnings. Working capital and other items used $9.9M.
Questions
What was United States 12 Month Oil Fund, LP's revenue in the third quarter 2026?
United States 12 Month Oil Fund, LP (USL) reported revenue of $10.7M for the third quarter 2026 (Q3 2026), up 21-fold from a year earlier.
Was United States 12 Month Oil Fund, LP profitable in the third quarter 2026?
Operating profit was $10.5M (98.8% of revenue) and net earnings $10.5M.
Source: United States 12 Month Oil Fund, LP 10-Q on SEC EDGAR.