Filing Flows › Essential Properties Realty Trust (EPRT) › Q3 2025
Essential Properties Realty Trust (EPRT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 22, 2025
Essential Properties Realty Trust (EPRT) reported revenue of $145M for the third quarter 2025 (Q3 2025), +24% from a year earlier and +6% from the quarter before. Operating margin was 64.7%, net earnings $65.6M (45.3% of revenue).
Essential Properties Realty Trust, Q3 2025: revenue $145M (+24% year over year), operating margin 64.7%, net earnings $65.6M, operating cash flow $99.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $145M | +6% | +24% |
| Operating profit | $93.7M | +7% | +34% |
| Net earnings | $65.6M | +4% | +34% |
| Operating cash flow | $99.0M | -0.8% | +35% |
What changed
Revenue was $144.9M in Q3 2025, up 24% year over year and up 6% from the previous quarter.
Operating profit was $93.7M, a 64.7% margin (up 5.0 points year over year). Of the extra revenue versus a year earlier, 86% reached operating profit, above the 60% margin then. Total costs grew 8% against revenue growth of 24%. The fastest-growing cost line was General & admin (+18%). Net earnings were $65.6M, up 34% year over year. The effective tax rate was 0.3%.
Operating cash flow was $99.0M (up 35% year over year), 150% of net earnings. Non-cash charges added back $37.5M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items used $7.9M. Capital expenditures of $284.4M exceeded it, leaving free cash flow of −$185.4M.
Questions
What was Essential Properties Realty Trust's revenue in the third quarter 2025?
Essential Properties Realty Trust (EPRT) reported revenue of $145M for the third quarter 2025 (Q3 2025), +24% from a year earlier and +6% from the quarter before.
Was Essential Properties Realty Trust profitable in the third quarter 2025?
Operating profit was $93.7M (64.7% of revenue) and net earnings $65.6M.
Source: Essential Properties Realty Trust 10-Q on SEC EDGAR.