Filing Flows › Valhi (VHI) › Q2 2026 › vs Q1 2026
Valhi (VHI) Q2 2026 vs Q1 2026 (quarter over quarter)
Valhi's revenue rose $46.0M (+8%) from $560M in Q1 2026 to $606M in Q2 2026. The biggest changes: Chemicals +$48.3M (+9%); Real estate management and development −$5.3M (-55%); Component products +$3.0M (+7%). Gross margin 19.8% against 18.4% (+1.4 pts).
Valhi, Q2 2026: revenue $606M (+12% year over year), operating margin 11.2%, net earnings $22.3M, operating cash flow $59.1M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 19.8% | 18.4% | +1.4 pts |
| Operating margin | 11.2% | 5.9% | +5.3 pts |
| Net margin | 3.7% | 0.4% | +3.3 pts |
| Free cash flow margin | 6.9% | -10.1% | +17.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Chemicals | $558M | $510M | $48.3M | +9% |
| Component products | $43.6M | $40.6M | $3.0M | +7% |
| Real estate management and development | $4.4M | $9.7M | −$5.3M | -55% |
| Revenue | $606M | $560M | $46.0M | +8% |
| Gross profit | $120M | $103M | $17.1M | +17% |
| Cost of revenue | $486M | $457M | $28.9M | +6% |
| Operating profit | $67.7M | $32.9M | $34.8M | +106% |
| Operating expenses | $52.4M | $70.1M | −$17.7M | -25% |
| Pre-tax earnings | $47.3M | $14.1M | $33.2M | +235% |
| Other expense, net | $20.4M | $18.8M | $1.6M | +9% |
| Net earnings | $22.3M | $2.0M | $20.3M | 11× |
| Minority interests | $13.2M | $5.8M | $7.4M | +128% |
| Income tax | $11.8M | $6.3M | $5.5M | +87% |
| Depreciation & amortization | $17.1M | $16.9M | $200K | +1% |
| Working capital & other | $19.7M | −$65.0M | $84.7M | — |
| Operating cash flow | $59.1M | −$46.1M | $105M | — |
| Free cash flow (OCF − capex) | $41.9M | −$56.7M | $98.6M | — |
| Capital expenditures | $17.2M | $10.6M | $6.6M | +62% |
Questions
How much did Valhi's revenue grow quarter over quarter in Q2 2026?
Valhi's revenue rose $46.0M (+8%) from $560M in Q1 2026 to $606M in Q2 2026.
What drove Valhi's revenue change in Q2 2026?
Chemicals +$48.3M (+9%); Real estate management and development −$5.3M (-55%); Component products +$3.0M (+7%).