Cost of goods sold grew 8% to $425.7 million. Production margin fell 6% to $129.2 million from $137.0 million, or 23.3% of sales on a calculated basis versus 25.7%.
Volumes declined approximately 4% on an adjusted basis, which management tied mainly to soft market demand. Price and mix contributed approximately 4% to sales growth, helped by price increases taken in response to risingInflationalong with positive mix.
Reported operating income jumped $1,014 million to $1,758 million. The company's reconciliation shows mark-to-market gains fromDerivativesof $543 million this year, compared with losses of $348 million in the prior year quarter, a swing of $891 million.
Revenue was $1,202.4 million, up 22.6% from $980.6 million in the second quarter and 63.1% from $737.2 million in the third quarter of 2025. CEO Michael Hsing said the company sees accelerated growth.
Net income was $0.4 million, or $0.03 per diluted share, compared with $12.3 million, or $0.93, in the second quarter and $17.1 million, or $1.32, a year earlier.
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