Filing Flows › United States Oil Fund, LP (USO) › Q3 2026
United States Oil Fund, LP (USO) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
United States Oil Fund, LP (USO) reported revenue of $682M for the third quarter 2026 (Q3 2026), up 27-fold from a year earlier. Operating margin was 99.5%, net earnings $679M (99.5% of revenue).
United States Oil Fund, LP, Q3 2026: revenue $682M (27× year over year), operating margin 99.5%, net earnings $679M, operating cash flow −$778M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $682M | — | 27× |
| Operating profit | $679M | — | 29× |
| Net earnings | $679M | — | 29× |
| Operating cash flow | −$778M | -223% | — |
What changed
Revenue was $682.3M in Q3 2026, up 2569% year over year.
Operating profit was $678.7M, a 99.5% margin (up 7.7 points year over year). Of the extra revenue versus Q3 2025, 100% reached operating profit, above the 92% margin then. Total costs grew 74% against revenue growth of 2569%. Net earnings were $678.7M, up 2792% year over year. The effective tax rate was 0.0%.
Operating cash flow was −$778.4M. Working capital and other items used $1,457.1M.
Questions
What was United States Oil Fund, LP's revenue in the third quarter 2026?
United States Oil Fund, LP (USO) reported revenue of $682M for the third quarter 2026 (Q3 2026), up 27-fold from a year earlier.
Was United States Oil Fund, LP profitable in the third quarter 2026?
Operating profit was $679M (99.5% of revenue) and net earnings $679M.