Filing Flows › Cousins Properties (CUZ) › Q3 2025
Cousins Properties (CUZ) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Cousins Properties (CUZ) reported revenue of $248M for the third quarter 2025 (Q3 2025), +19% from a year earlier and +3% from the quarter before. Operating margin was 68.1%, net earnings $8.8M (3.5% of revenue).
Cousins Properties, Q3 2025: revenue $248M (+19% year over year), operating margin 68.1%, net earnings $8.8M, operating cash flow $120M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $248M | +3% | +19% |
| Operating profit | $169M | +1% | +19% |
| Net earnings | $8.8M | -40% | -23% |
| Operating cash flow | $120M | -2% | +3% |
| Free cash flow | $66.3M | — | -4% |
What changed
Revenue was $248.3M in Q3 2025, up 19% year over year and up 3% from the previous quarter. Rental property revenues was the largest line at 99% of revenue. Rental property revenues added $39.2M year over year (up 19%), 100% of the total change. Termination fee income declined 43%.
Operating profit was $169.2M, a 68.1% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 69% reached operating profit, above the 68% margin then. Total costs grew 18% against revenue growth of 19%. Net earnings were $8.6M, down 23% year over year. The effective tax rate was 0.0%.
Operating cash flow was $120.5M (up 3% year over year), 1373% of net income including minority interests. Non-cash charges added back $105.3M of depreciation and amortization. Working capital and other items added $6.4M. Capital expenditures of $54.2M left free cash flow of $66.3M.
Questions
What was Cousins Properties' revenue in the third quarter 2025?
Cousins Properties (CUZ) reported revenue of $248M for the third quarter 2025 (Q3 2025), +19% from a year earlier and +3% from the quarter before.
Was Cousins Properties profitable in the third quarter 2025?
Operating profit was $169M (68.1% of revenue) and net earnings $8.8M.
Source: Cousins Properties 10-Q on SEC EDGAR.