Filing Flows › CTO Realty Growth (CTO) › Q1 2025
CTO Realty Growth (CTO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
CTO Realty Growth (CTO) reported revenue of $35.8M for the first quarter 2025 (Q1 2025), +27% from a year earlier and +0.2% from the quarter before. Operating margin was 22.0%, net earnings $2.3M (6.3% of revenue).
CTO Realty Growth, Q1 2025: revenue $35.8M (+27% year over year), operating margin 22.0%, net earnings $2.3M, operating cash flow $10.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.8M | +0.2% | +27% |
| Gross profit | $26.9M | +1% | +31% |
| Operating profit | $7.9M | — | -46% |
| Net earnings | $2.3M | — | -61% |
| Operating cash flow | $10.3M | -56% | -12% |
What changed
Revenue was $35.8M in Q1 2025, up 27% year over year and roughly flat from the previous quarter. Income Properties was the largest line at 88% of revenue. Income Properties added $7.0M year over year (up 29%), 92% of the total change.
Gross margin was 75.2%, up 2.1 points from a year earlier. Operating profit was $7.9M, a 22.0% margin (down 29.6 points year over year). Operating profit fell $6.7M even though revenue rose $7.7M versus a year earlier, so costs grew faster than sales. Operating expenses grew 216% against revenue growth of 27%. The fastest-growing cost line was Other operating costs (+691%). Net earnings were $2.3M, down 61% year over year. The effective tax rate was 2.2%.
Operating cash flow was $10.3M (down 12% year over year), 456% of net earnings. Non-cash charges added back $14.4M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $7.6M.
Questions
What was CTO Realty Growth's revenue in the first quarter 2025?
CTO Realty Growth (CTO) reported revenue of $35.8M for the first quarter 2025 (Q1 2025), +27% from a year earlier and +0.2% from the quarter before.
Was CTO Realty Growth profitable in the first quarter 2025?
Operating profit was $7.9M (22.0% of revenue) and net earnings $2.3M.
Source: CTO Realty Growth 10-Q on SEC EDGAR.