Filing Flows › Braemar Hotels & Resorts (BHR) › Q1 2025
Braemar Hotels & Resorts (BHR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Braemar Hotels & Resorts (BHR) reported revenue of $216M for the first quarter 2025 (Q1 2025), -1% from a year earlier and +25% from the quarter before. Operating margin was 17.0%, net earnings $11.0M (5.1% of revenue).
Braemar Hotels & Resorts, Q1 2025: revenue $216M (-2% year over year), operating margin 17.0%, net earnings $11.0M, operating cash flow $15.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $216M | +25% | -1% |
| Operating profit | $36.7M | +872% | -13% |
| Net earnings | $11.0M | — | -31% |
| Operating cash flow | $15.1M | +128% | -58% |
What changed
Revenue was $215.8M in Q1 2025, down 1% year over year and up 25% from the previous quarter. Rooms was the largest line at 63% of revenue. Rooms lost $2.5M year over year (down 2%), 75% of the total change.
Operating profit was $36.7M, a 17.0% margin (down 2.4 points year over year). Total costs grew 1% against a revenue fall of 1%. Net earnings were $11.0M, down 31% year over year ($10.7M including minority interests, which bore $326K of losses). The effective tax rate was 12.1%.
Operating cash flow was $15.1M (down 58% year over year), 142% of net income including minority interests. Non-cash charges added back $23.4M of depreciation and amortization. Working capital and other items used $18.9M. Capital expenditures of $15.3M exceeded it, leaving free cash flow of −$159K.
Questions
What was Braemar Hotels & Resorts' revenue in the first quarter 2025?
Braemar Hotels & Resorts (BHR) reported revenue of $216M for the first quarter 2025 (Q1 2025), -1% from a year earlier and +25% from the quarter before.
Was Braemar Hotels & Resorts profitable in the first quarter 2025?
Operating profit was $36.7M (17.0% of revenue) and net earnings $11.0M.