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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
ESAB
ESAB (ESAB) investor relations material
ESAB Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 core sales reached $786.8M, with 2.3% organic growth; reported net sales were $824.5M, up 13.3% YoY.
Core adjusted EBITDA rose 17.0% to $156.1M, with margin expanding 40 bps YoY to 19.8%.
Both segments delivered organic growth; sequential margin and cash generation improved, while inflation and regional weakness weighed on performance.
Q4 is expected to be the strongest quarter of 2026 for core growth, margins and cash flow, with momentum carrying into 2027.
Financial highlights
Reported net sales were $824.5M vs. $727.8M; core sales were $786.8M vs. $687.4M.
Core adjusted gross profit was $316.3M, with a 40.2% margin vs. $258.8M and 37.7% a year earlier.
Core adjusted EBITDA was $156.1M vs. $133.4M; margin was 19.8% vs. 19.4%.
Continuing-operations net income was $42.2M vs. $65.3M and diluted EPS was $0.61 vs. $1.04; core adjusted net income was $83.0M vs. $80.5M and EPS was $1.30 vs. $1.32.
Adjusted free cash flow was $60.0M vs. $86.4M; operating cash flow was $72.7M vs. $81.5M.
Outlook and guidance
FY26 sales guidance narrowed to $3.055B–$3.060B, with core organic growth of 1.6%–2.0%, M&A contribution of ~9.5% and FX contribution of ~2.0%.
FY26 core adjusted EBITDA guidance was lowered to $603M–$607M from $615M–$625M; core adjusted EPS guidance fell to $5.28–$5.33 from $5.40–$5.50.
Adjusted free-cash-flow conversion guidance is ~80%; GAAP free cash flow as a percentage of net income is ~105%.
Q4 is expected to deliver close to mid-single-digit growth, margin expansion and stronger cash flow; October orders grew mid-single digits, with sales close to that pace.
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Latest events from ESAB
- Record Q2 sales and EBITDA, raised outlook, and Eddyfi integration highlight strong growth.ESAB
Q2 2026 - All agenda items passed, including director elections and auditor ratification, with no questions raised.ESABAGM 2026
- Record sales and acquisition-driven growth support reaffirmed 2026 outlook.ESABQ1 2026
- 2026 annual meeting features director elections, auditor ratification, and a strong ESG focus.ESABProxy filing
- Virtual annual meeting to vote on directors, auditor, and executive pay on May 8, 2026.ESABProxy filing
- 2025 delivered higher reported sales and margins, with 2026 guidance projecting further growth.ESABQ4 2025
- $1.45B acquisition expands market by $5B, delivers $20M synergies, closes mid-2026.ESABM&A announcement
- Record margins, strong cash flow, and raised outlook driven by high-growth markets and innovation.ESABQ3 2024
- Record margins and strong cash flow achieved, with lower sales and robust high-growth market performance.ESABQ2 2024
Next ESAB earnings date
Q4 202619 Feb, 2027
ESAB
Next ESAB earnings date
Q4 202619 Feb, 2027
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Frequently asked questions
ESAB Corporation is a global company specializing in the production of welding and cutting equipment and consumables. It provides a wide range of products and solutions for industrial applications, including welding machines, gas control systems, cutting systems, and related consumables like electrodes and filler metals. The company serves industries such as manufacturing, construction, automotive, and shipbuilding, offering solutions that enable metal fabrication and processing. The company is headquartered in North Bethesda, Maryland, and its shares are listed on the NYSE.