Filing Flows › Cullen/Frost Bankers (CFR) › Q2 2025
Cullen/Frost Bankers (CFR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Cullen/Frost Bankers (CFR) reported revenue of $547M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +1% from the quarter before. Operating margin was 34.1%, net earnings $157M (28.7% of revenue).
Cullen/Frost Bankers, Q2 2025: revenue $547M (+8% year over year), operating margin 34.1%, net earnings $157M, operating cash flow $141M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $547M | +1% | +8% |
| Operating profit | $187M | +4% | +7% |
| Net earnings | $157M | +4% | +8% |
| Operating cash flow | $141M | — | +9% |
| Free cash flow | $115M | — | +11% |
What changed
Revenue was $546.9M in Q2 2025, up 8% year over year and up 1% from the previous quarter.
Operating profit was $186.6M, a 34.1% margin (down 0.4 points year over year). Of the extra revenue versus a year earlier, 29% reached operating profit, below the 34% margin then. Total costs grew 8% against revenue growth of 8%. Net earnings were $157.0M, up 8% year over year. The effective tax rate was 15.9%.
Operating cash flow was $140.8M (up 9% year over year), 90% of net earnings. Non-cash charges added back $21.8M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items used $42.9M. Capital expenditures of $26.3M left free cash flow of $114.5M.
Questions
What was Cullen/Frost Bankers' revenue in the second quarter 2025?
Cullen/Frost Bankers (CFR) reported revenue of $547M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +1% from the quarter before.
Was Cullen/Frost Bankers profitable in the second quarter 2025?
Operating profit was $187M (34.1% of revenue) and net earnings $157M.