Filing Flows › Copt Defense Properties (CDP) › Q2 2025
Copt Defense Properties (CDP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Copt Defense Properties (CDP) reported revenue of $190M for the second quarter 2025 (Q2 2025), +1% from a year earlier and +1% from the quarter before. Operating margin was 31.4%, net earnings $38.2M (20.1% of revenue).
Copt Defense Properties, Q2 2025: revenue $190M (+1% year over year), operating margin 31.4%, net earnings $38.2M, operating cash flow $87.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $190M | +1% | +1% |
| Operating profit | $59.6M | +9% | +10% |
| Net earnings | $38.2M | +10% | +9% |
| Operating cash flow | $87.9M | +22% | -6% |
| Free cash flow | $29.6M | -21% | -56% |
What changed
Revenue was $189.9M in Q2 2025, up 1% year over year and up 1% from the previous quarter.
Operating profit was $59.6M, a 31.4% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 214% reached operating profit, above the 29% margin then. Total costs fell 2% while revenue rose 1%. Net earnings were $38.2M, up 9% year over year. The effective tax rate was 0.3%.
Operating cash flow was $87.9M (down 6% year over year), 219% of net income including minority interests. Non-cash charges added back $40.0M of depreciation and amortization and $2.9M of share-based compensation. Working capital and other items added $4.8M. Capital expenditures of $58.3M left free cash flow of $29.6M.
Questions
What was Copt Defense Properties' revenue in the second quarter 2025?
Copt Defense Properties (CDP) reported revenue of $190M for the second quarter 2025 (Q2 2025), +1% from a year earlier and +1% from the quarter before.
Was Copt Defense Properties profitable in the second quarter 2025?
Operating profit was $59.6M (31.4% of revenue) and net earnings $38.2M.