Filing Flows › Saul Centers (BFS) › Q1 2025
Saul Centers (BFS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Saul Centers (BFS) reported revenue of $71.9M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +6% from the quarter before. Operating margin was 66.5%, net earnings $9.8M (13.6% of revenue).
Saul Centers, Q1 2025: revenue $71.9M (+8% year over year), operating margin 66.5%, net earnings $9.8M, operating cash flow $30.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.9M | +6% | +8% |
| Operating profit | $47.8M | -15% | -1% |
| Net earnings | $9.8M | +21% | -28% |
| Operating cash flow | $30.4M | +6% | -10% |
| Free cash flow | $14.7M | +871% | — |
What changed
Revenue was $71.9M in Q1 2025, up 8% year over year and up 6% from the previous quarter.
Operating profit was $47.8M, a 66.5% margin (down 5.9 points year over year). Operating profit fell $492K even though revenue rose $5.2M versus a year earlier, so costs grew faster than sales. Net earnings were $9.8M, down 28% year over year. The effective tax rate was 0.0%.
Operating cash flow was $30.4M (down 10% year over year), 236% of net income including minority interests. Non-cash charges added back $14.5M of depreciation and amortization and $428K of share-based compensation. Working capital and other items added $2.6M. Capital expenditures of $15.7M left free cash flow of $14.7M.
Questions
What was Saul Centers' revenue in the first quarter 2025?
Saul Centers (BFS) reported revenue of $71.9M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +6% from the quarter before.
Was Saul Centers profitable in the first quarter 2025?
Operating profit was $47.8M (66.5% of revenue) and net earnings $9.8M.
Source: Saul Centers 10-Q on SEC EDGAR.