Filing Flows › White Mountains Insurance Group (WTM) › Q3 2026
White Mountains Insurance Group (WTM) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
White Mountains Insurance Group (WTM) reported revenue of $641M for the third quarter 2026 (Q3 2026), -26% from a year earlier and -24% from the quarter before. Operating margin was -3.6%, net loss $29.6M (4.6% of revenue).
White Mountains Insurance Group, Q3 2026: revenue $641M (-26% year over year), operating margin -3.6%, net loss $29.6M, operating cash flow $357M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $641M | -24% | -26% |
| Operating profit | −$23.2M | -109% | -113% |
| Net earnings | −$29.6M | -115% | -126% |
| Operating cash flow | $357M | — | -0.8% |
What changed
Revenue was $641.1M in Q3 2026, down 26% year over year and down 24% from the previous quarter.
Operating costs exceeded revenue by $23.2M, an operating margin of -3.6%. Total costs fell 3% while revenue fell 26%. The fastest-growing cost line was Cost of revenue (+66%). The quarter ended with a net loss of $29.6M, after a profit of $231.2M the previous quarter.
Operating cash flow was $356.6M (down 1% year over year). Non-cash charges added back $11.7M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items added $369.1M.
Questions
What was White Mountains Insurance Group's revenue in the third quarter 2026?
White Mountains Insurance Group (WTM) reported revenue of $641M for the third quarter 2026 (Q3 2026), -26% from a year earlier and -24% from the quarter before.
Was White Mountains Insurance Group profitable in the third quarter 2026?
Operating loss was $23.2M (-3.6% of revenue) and net loss $29.6M.