Filing Flows › Federal Realty Investment Trust (FRT) › Q2 2025
Federal Realty Investment Trust (FRT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Federal Realty Investment Trust (FRT) reported revenue of $312M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +0.8% from the quarter before. Operating margin was 65.1%, net earnings $156M (50.0% of revenue).
Federal Realty Investment Trust, Q2 2025: revenue $312M (+5% year over year), operating margin 65.1%, net earnings $156M, operating cash flow $151M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $312M | +0.8% | +5% |
| Operating profit | $203M | +87% | +29% |
| Net earnings | $156M | +145% | +39% |
| Operating cash flow | $151M | -16% | -11% |
| Free cash flow | $113M | -24% | -18% |
What changed
Revenue was $311.5M in Q2 2025, up 5% year over year and up 1% from the previous quarter.
Operating profit was $202.7M, a 65.1% margin (up 12.0 points year over year). Of the extra revenue versus a year earlier, 296% reached operating profit, above the 53% margin then. Total costs fell 22% while revenue rose 5%. Net earnings were $155.9M, up 39% year over year. The effective tax rate was 0.0%.
Operating cash flow was $150.7M (down 11% year over year), 94% of net income including minority interests. Non-cash charges added back $89.2M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items used $102.1M. Capital expenditures of $38.1M left free cash flow of $112.6M.
Questions
What was Federal Realty Investment Trust's revenue in the second quarter 2025?
Federal Realty Investment Trust (FRT) reported revenue of $312M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +0.8% from the quarter before.
Was Federal Realty Investment Trust profitable in the second quarter 2025?
Operating profit was $203M (65.1% of revenue) and net earnings $156M.