Filing Flows › Valhi (VHI) › Q3 2026
Valhi (VHI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Valhi (VHI) reported revenue of $589M for the third quarter 2026 (Q3 2026), +17% from a year earlier and -3% from the quarter before. Operating margin was 11.4%, net earnings $30.2M (5.1% of revenue).
Valhi, Q3 2026: revenue $589M (+17% year over year), operating margin 11.4%, net earnings $30.2M, operating cash flow $58.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $589M | -3% | +17% |
| Gross profit | $142M | +18% | +134% |
| Operating profit | $67.4M | -0.4% | +684% |
| Net earnings | $30.2M | +35% | — |
| Operating cash flow | $58.7M | -0.7% | — |
| Free cash flow | $43.6M | +4% | — |
What changed
Revenue was $589.0M in Q3 2026, up 17% year over year and down 3% from the previous quarter. Chemicals was the largest line at 92% of revenue. Chemicals added $84.2M year over year (up 18%), 98% of the total change. Real estate management and development declined 41%.
Gross margin was 24.1%, up 12.1 points from Q3 2025. Operating profit was $67.4M, a 11.4% margin (up 9.7 points year over year). Of the extra revenue versus Q3 2025, 69% reached operating profit, above the 2% margin then. Operating expenses grew 44% against revenue growth of 17%. Net earnings were $30.2M. The effective tax rate was 16.4%.
Operating cash flow was $58.7M, 144% of net income including minority interests. Non-cash charges added back $16.8M of depreciation and amortization. Capital expenditures of $15.1M left free cash flow of $43.6M.
Questions
What was Valhi's revenue in the third quarter 2026?
Valhi (VHI) reported revenue of $589M for the third quarter 2026 (Q3 2026), +17% from a year earlier and -3% from the quarter before.
Was Valhi profitable in the third quarter 2026?
Operating profit was $67.4M (11.4% of revenue) and net earnings $30.2M.
Source: Valhi 10-Q on SEC EDGAR.