Filing Flows › First Bancorp (FBP) › Q1 2025
First Bancorp (FBP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
First Bancorp (FBP) reported revenue of $248M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +3% from the quarter before. Operating margin was 40.4%, net earnings $77.1M (31.1% of revenue).
First Bancorp, Q1 2025: revenue $248M (+8% year over year), operating margin 40.4%, net earnings $77.1M, operating cash flow $108M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $248M | +3% | +8% |
| Operating profit | $100M | +4% | +3% |
| Net earnings | $77.1M | +2% | +5% |
| Operating cash flow | $108M | +12% | -8% |
| Free cash flow | $107M | +12% | -6% |
What changed
Revenue was $248.1M in Q1 2025, up 8% year over year and up 3% from the previous quarter.
Operating profit was $100.3M, a 40.4% margin (down 1.8 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, below the 42% margin then. Total costs grew 11% against revenue growth of 8%. The fastest-growing cost line was Credit loss provision (+104%). Net earnings were $77.1M, up 5% year over year. The effective tax rate was 23.2%.
Operating cash flow was $108.2M (down 8% year over year), 140% of net earnings. Non-cash charges added back $3.7M of share-based compensation. Working capital and other items added $27.4M. Capital expenditures of $1.5M left free cash flow of $106.7M.
Questions
What was First Bancorp's revenue in the first quarter 2025?
First Bancorp (FBP) reported revenue of $248M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +3% from the quarter before.
Was First Bancorp profitable in the first quarter 2025?
Operating profit was $100M (40.4% of revenue) and net earnings $77.1M.
Source: First Bancorp 10-Q on SEC EDGAR.