Filing Flows › Franklin BSP Realty Trust (FBRT) › Q1 2025
Franklin BSP Realty Trust (FBRT) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 28, 2025
Franklin BSP Realty Trust (FBRT) reported revenue of $50.1M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -10% from the quarter before. Operating margin was 48.6%, net earnings $24.1M (48.0% of revenue).
Franklin BSP Realty Trust, Q1 2025: revenue $50.1M (-7% year over year), operating margin 48.6%, net earnings $24.1M, operating cash flow $116M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.1M | -10% | -7% |
| Operating profit | $24.4M | — | -34% |
| Net earnings | $24.1M | -21% | -33% |
| Operating cash flow | $116M | — | +796% |
| Free cash flow | $116M | — | +791% |
What changed
Revenue was $50.1M in Q1 2025, down 7% year over year and down 10% from the previous quarter.
Operating profit was $24.4M, a 48.6% margin (down 19.3 points year over year). Total costs grew 49% against a revenue fall of 7%. The fastest-growing cost line was Other operating costs (+55%). Net earnings were $24.1M, down 33% year over year ($23.7M including minority interests, which bore $353K of losses). The effective tax rate was 2.7%.
Operating cash flow was $116.2M (up 796% year over year), 490% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $88.9M. Capital expenditures of $706K left free cash flow of $115.5M.
Questions
What was Franklin BSP Realty Trust's revenue in the first quarter 2025?
Franklin BSP Realty Trust (FBRT) reported revenue of $50.1M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -10% from the quarter before.
Was Franklin BSP Realty Trust profitable in the first quarter 2025?
Operating profit was $24.4M (48.6% of revenue) and net earnings $24.1M.