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Statistical Release

NATIONAL + CORPORATE INCOME 2026 Q2

EARL translates official U.S. economic-account concepts into a business-facing income-statement framework. This release presents National and Corporate income results for 2026 Q2.

Reference period2026 Q2
PublicationNovember 1, 2026, 12:08 PM EST
Source releaseBEA · Sep 30, 2026
Release IDNC-2026Q2-v1.0
EARL Income Flow

National production flows for 2026 Q2. Flows are additive at the displayed rounding precision; small source-level accounting residuals may remain.

Swipe horizontally to enlarge and explore the income-flow chart.
Static EARL Sankey showing National Revenue flowing to Gross Profit and COGS; Gross Profit flowing to EBITDA (Calculated) and Total Operating Expenses; Total Operating Expenses flowing to Employee Compensation and production taxes net of subsidies; and Employee Compensation flowing to wages and supplements.
Figure 1: National income flow from Revenue to COGS, Gross Profit, operating expenses, and EBITDA (Calculated).
From To 2026 Q2 ($ millions, SAAR) Share of Revenue
Revenue Gross Profit 32,563,030 58.0%
Revenue COGS 23,590,600 42.0%
Gross Profit EBITDA (Calculated) 13,997,289 24.9%
Gross Profit Total Operating Expenses 18,565,741 33.1%
Total Operating Expenses Employee Compensation 16,371,902 29.2%
Total Operating Expenses Taxes on Production & Imports, net of Subsidies 2,193,839 3.9%
Employee Compensation Wages & Salaries 13,504,412 24.0%
Employee Compensation Supplements to Wages & Salaries 2,867,491 5.1%

Headline fact 01 National Revenue was $56.15 trillion in 2026 Q2, up 3.0% from the previous quarter and 7.2% from a year earlier.

Headline fact 02 National Gross Profit was $32.56 trillion in 2026 Q2, up 2.1% from the previous quarter and 6.3% from a year earlier.

Headline fact 03 Corporate Net Income was $3.33 trillion in 2026 Q2, up 8.1% from the previous quarter and 18.6% from a year earlier.

Headline Indicators

Latest National indicators

Measure 2026 Q2 Change from 2026 Q1 ($ millions) q/q vs. 2026 Q1 y/y vs. 2025 Q2
Revenue 56,153,600 +1,619,300 +3.0% +7.2%
COGS (23,590,600) +962,600 +4.3% +8.4%
Gross Profit 32,563,030 +656,756 +2.1% +6.3%

Levels and absolute changes are $ millions at seasonally adjusted annual rates (SAAR); q/q and y/y columns show percent changes.

National Income

National Income Statement — Quarterly

Statements are shown newest to oldest. Levels are $ millions at seasonally adjusted annual rates (SAAR); costs appear in parentheses as a display convention.

Quarterly National EBITDA is shown as EBITDA (Calculated), defined as Gross Profit minus Total Operating Expenses. The National statement displays the effect of BEA’s source-signed Statistical Discrepancy as an adjustment so the EBITDA-to-EBIT bridge is explicit. Annual EBITDA is a separate construction.

2026 Q2 2026 Q1 2025 Q4 2025 Q3
Revenue 56,153,600 54,534,300 53,598,200 53,243,100
COGS (23,590,600) (22,628,000) (22,135,700) (22,062,600)
Gross Profit 32,563,030 31,906,274 31,462,523 31,180,493
Operating Expenses
Wages and Salaries (13,504,412) (13,357,154) (13,189,650) (13,064,167)
Supplements to Wages and Salaries (2,867,491) (2,828,113) (2,775,849) (2,734,523)
Total Employee Compensation (16,371,902) (16,185,267) (15,965,499) (15,798,690)
Taxes on Production & Imports, net of Subsidies (2,193,839) (2,185,289) (2,247,656) (2,173,552)
Total Operating Expenses (18,565,741) (18,370,556) (18,213,155) (17,972,242)
EBITDA (Calculated) 13,997,289 13,535,718 13,249,368 13,208,251
Depreciation (5,358,760) (5,259,482) (5,194,981) (5,099,491)
Statistical Discrepancy Adjustment 189,498 152,438 146,218 (12,620)
Operating Income (EBIT) 8,828,026 8,428,673 8,200,605 8,096,140
Interest Expense (1,151,818) (1,149,729) (1,119,763) (1,123,129)
Income Before Taxes (EBT) 7,676,208 7,278,944 7,080,842 6,973,011

National Changes

Measure Change from 2026 Q1 ($ millions) q/q vs. 2026 Q1 y/y vs. 2025 Q2
Revenue +1,619,300 +3.0% +7.2%
COGS +962,600 +4.3% +8.4%
Gross Profit +656,756 +2.1% +6.3%
Total Operating Expenses +195,185 +1.1% +4.8%
EBITDA (Calculated) +461,571 +3.4% +8.5%
Operating Income (EBIT) +399,353 +4.7% +11.3%
Income Before Taxes (EBT) +397,264 +5.5% +12.9%
National Growth

National year-over-year growth

Ten-year line chart of quarterly year-over-year growth in National Revenue, COGS, and Gross Profit, using distinct colors and line types.
Figure 2: Year-over-year change in National Revenue, COGS, and Gross Profit over the latest ten years.
Corporate Income

Corporate Income Statement — Quarterly

The Corporate statement begins at Gross Profit because EARL does not present standalone Corporate Revenue or COGS for this release. Levels are $ millions at seasonally adjusted annual rates (SAAR); costs appear in parentheses as a display convention.

2026 Q2 2026 Q1 2025 Q4 2025 Q3
Gross Profit 19,749,163 19,215,588 18,885,098 18,584,295
Operating Expenses
Wages and Salaries (8,726,476) (8,630,516) (8,494,899) (8,426,458)
Supplements to Wages and Salaries (1,610,409) (1,572,015) (1,524,692) (1,511,072)
Total Employee Compensation (10,336,885) (10,202,531) (10,019,591) (9,937,530)
Taxes on Production & Imports, net of Subsidies (1,524,559) (1,520,283) (1,546,063) (1,506,654)
Total Operating Expenses (11,861,444) (11,722,814) (11,565,654) (11,444,184)
EBITDA (Calculated) 7,887,719 7,492,774 7,319,444 7,140,111
Depreciation (2,938,886) (2,875,177) (2,832,686) (2,769,683)
Operating Income (EBIT) 4,948,833 4,617,598 4,486,758 4,370,428
Interest Expense / (Income) (570,625) (586,653) (571,263) (564,779)
Business Current Transfer Payments (215,163) (224,356) (237,359) (256,836)
Income Before Taxes (EBT) — with IVA & CCAdj 4,163,045 3,806,589 3,678,137 3,548,814
Income Tax (832,019) (724,868) (680,702) (650,127)
Net Income — with IVA & CCAdj 3,331,026 3,081,721 2,997,435 2,898,687
Earnings Distribution
Dividends (2,028,879) (1,877,156) (1,816,443) (1,764,759)
Retained Earnings 1,302,147 1,204,565 1,180,991 1,133,928

The main Corporate table uses the with IVA & CCAdj convention for EBT, Net Income, and Retained Earnings. Alternative without-adjustment measures and the full reconciliation are documented in Method.

Corporate Changes

Measure Change from 2026 Q1 ($ millions) q/q vs. 2026 Q1 y/y vs. 2025 Q2
Gross Profit +533,575 +2.8% +8.9%
Total Operating Expenses +138,630 +1.2% +5.5%
EBITDA (Calculated) +394,945 +5.3% +14.4%
Operating Income (EBIT) +331,235 +7.2% +17.9%
Income Before Taxes (EBT) — with IVA & CCAdj +356,456 +9.4% +21.5%
Net Income — with IVA & CCAdj +249,305 +8.1% +18.6%
Dividends +151,723 +8.1% +24.9%
Retained Earnings +97,582 +8.1% +10.1%

Corporate Ratios

Ratio 2026 Q2 2026 Q1 2025 Q4 2025 Q3
Payout Ratio 60.9% 60.9% 60.6% 60.9%
Retention Ratio 39.1% 39.1% 39.4% 39.1%
Effective Tax Rate 20.0% 19.0% 18.5% 18.3%
Annual Context

Current and prior year

Measure 2025 2024
National Revenue 52,797,100 50,519,200
National COGS (21,935,800) (21,138,200)
National Gross Profit 30,861,292 29,380,991
Corporate Net Income — with IVA & CCAdj 2,873,816 2,638,494

Annual levels are $ millions. Annual context is intentionally compact; full historical statements remain available in the Income Statements page.

BEA source release: GDP (Third Estimate), Industries, Corporate Profits, State GDP, and State Personal Income, 2nd Quarter 2026; State PCE, 2025, released September 30, 2026.
EARL source-data retrieval: October 7, 2026, 20:12:08–20:12:24 UTC.
Source cutoff: September 30, 2026, 8:30 AM EDT.
EARL business-facing labels are analytical translations of official BEA economic-account concepts. See the Method page for definitions, construction, and source lineage.