Filing Flows › Essential Properties Realty Trust (EPRT) › Q2 2025
Essential Properties Realty Trust (EPRT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 23, 2025
Essential Properties Realty Trust (EPRT) reported revenue of $137M for the second quarter 2025 (Q2 2025), +25% from a year earlier and +6% from the quarter before. Operating margin was 64.1%, net earnings $63.2M (46.1% of revenue).
Essential Properties Realty Trust, Q2 2025: revenue $137M (+25% year over year), operating margin 64.1%, net earnings $63.2M, operating cash flow $99.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $137M | +6% | +25% |
| Operating profit | $87.8M | +10% | +31% |
| Net earnings | $63.2M | +13% | +23% |
| Operating cash flow | $99.8M | +29% | +23% |
What changed
Revenue was $137.1M in Q2 2025, up 25% year over year and up 6% from the previous quarter.
Operating profit was $87.8M, a 64.1% margin (up 2.9 points year over year). Of the extra revenue versus a year earlier, 76% reached operating profit, above the 61% margin then. Total costs grew 16% against revenue growth of 25%. The fastest-growing cost line was General & admin (+23%). Net earnings were $63.2M, up 23% year over year. The effective tax rate was 0.2%.
Operating cash flow was $99.8M (up 23% year over year), 157% of net earnings. Non-cash charges added back $37.1M of depreciation and amortization and $3.5M of share-based compensation. Capital expenditures of $282.5M exceeded it, leaving free cash flow of −$182.7M.
Questions
What was Essential Properties Realty Trust's revenue in the second quarter 2025?
Essential Properties Realty Trust (EPRT) reported revenue of $137M for the second quarter 2025 (Q2 2025), +25% from a year earlier and +6% from the quarter before.
Was Essential Properties Realty Trust profitable in the second quarter 2025?
Operating profit was $87.8M (64.1% of revenue) and net earnings $63.2M.
Source: Essential Properties Realty Trust 10-Q on SEC EDGAR.