Filing Flows › Saul Centers (BFS) › Q2 2025
Saul Centers (BFS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Saul Centers (BFS) reported revenue of $70.8M for the second quarter 2025 (Q2 2025), +6% from a year earlier and -1% from the quarter before. Operating margin was 68.7%, net earnings $10.7M (15.1% of revenue).
Saul Centers, Q2 2025: revenue $70.8M (+6% year over year), operating margin 68.7%, net earnings $10.7M, operating cash flow $26.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $70.8M | -1% | +6% |
| Operating profit | $48.7M | +2% | -3% |
| Net earnings | $10.7M | +9% | -26% |
| Operating cash flow | $26.6M | -12% | -17% |
| Free cash flow | $7.3M | -50% | — |
What changed
Revenue was $70.8M in Q2 2025, up 6% year over year and down 1% from the previous quarter.
Operating profit was $48.7M, a 68.7% margin (down 6.3 points year over year). Operating profit fell $1.6M even though revenue rose $3.9M versus a year earlier, so costs grew faster than sales. Net earnings were $10.7M, down 26% year over year. The effective tax rate was 0.0%.
Operating cash flow was $26.6M (down 17% year over year), 188% of net income including minority interests. Non-cash charges added back $14.1M of depreciation and amortization and $480K of share-based compensation. Working capital and other items used $2.2M. Capital expenditures of $19.3M left free cash flow of $7.3M.
Questions
What was Saul Centers' revenue in the second quarter 2025?
Saul Centers (BFS) reported revenue of $70.8M for the second quarter 2025 (Q2 2025), +6% from a year earlier and -1% from the quarter before.
Was Saul Centers profitable in the second quarter 2025?
Operating profit was $48.7M (68.7% of revenue) and net earnings $10.7M.
Source: Saul Centers 10-Q on SEC EDGAR.