Filing Flows › Valhi (VHI) › Q2 2026
Valhi (VHI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Valhi (VHI) reported revenue of $606M for the second quarter 2026 (Q2 2026), +12% from a year earlier and +8% from the quarter before. Operating margin was 11.2%, net earnings $22.3M (3.7% of revenue).
Valhi, Q2 2026: revenue $606M (+12% year over year), operating margin 11.2%, net earnings $22.3M, operating cash flow $59.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $606M | +8% | +12% |
| Gross profit | $120M | +17% | +54% |
| Operating profit | $67.7M | +106% | +91% |
| Net earnings | $22.3M | 11× | 25× |
| Operating cash flow | $59.1M | — | +172% |
| Free cash flow | $41.9M | — | +360% |
What changed
Revenue was $606.1M in Q2 2026, up 12% year over year and up 8% from the previous quarter. Chemicals was the largest line at 92% of revenue. Chemicals added $63.7M year over year (up 13%), 97% of the total change. Real estate management and development declined 23%.
Gross margin was 19.8%, up 5.4 points from Q2 2025. Operating profit was $67.7M, a 11.2% margin (up 4.6 points year over year). Of the extra revenue versus Q2 2025, 49% reached operating profit, above the 7% margin then. Operating expenses grew 23% against revenue growth of 12%. Net earnings were $22.3M, up 2378% year over year. The effective tax rate was 24.9%.
Operating cash flow was $59.1M (up 172% year over year), 166% of net income including minority interests. Non-cash charges added back $17.1M of depreciation and amortization. Working capital and other items added $6.5M. Capital expenditures of $17.2M left free cash flow of $41.9M.
Questions
What was Valhi's revenue in the second quarter 2026?
Valhi (VHI) reported revenue of $606M for the second quarter 2026 (Q2 2026), +12% from a year earlier and +8% from the quarter before.
Was Valhi profitable in the second quarter 2026?
Operating profit was $67.7M (11.2% of revenue) and net earnings $22.3M.
Source: Valhi 10-Q on SEC EDGAR.