Filing Flows › Federal Realty Investment Trust (FRT) › Q3 2025
Federal Realty Investment Trust (FRT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Federal Realty Investment Trust (FRT) reported revenue of $322M for the third quarter 2025 (Q3 2025), +6% from a year earlier and +3% from the quarter before. Operating margin was 34.3%, net earnings $61.6M (19.1% of revenue).
Federal Realty Investment Trust, Q3 2025: revenue $322M (+6% year over year), operating margin 34.3%, net earnings $61.6M, operating cash flow $148M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $322M | +3% | +6% |
| Operating profit | $111M | -45% | +5% |
| Net earnings | $61.6M | -60% | +1% |
| Operating cash flow | $148M | -2% | +3% |
| Free cash flow | $102M | — | -6% |
What changed
Revenue was $322.3M in Q3 2025, up 6% year over year and up 3% from the previous quarter.
Operating profit was $110.7M, a 34.3% margin (down 0.5 points year over year). Of the extra revenue versus a year earlier, 26% reached operating profit, below the 35% margin then. Total costs grew 7% against revenue growth of 6%. Net earnings were $61.6M, up 1% year over year. The effective tax rate was 0.0%.
Operating cash flow was $147.8M (up 3% year over year), 229% of net income including minority interests. Non-cash charges added back $94.3M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items used $14.4M. Capital expenditures of $46.1M left free cash flow of $101.7M.
Questions
What was Federal Realty Investment Trust's revenue in the third quarter 2025?
Federal Realty Investment Trust (FRT) reported revenue of $322M for the third quarter 2025 (Q3 2025), +6% from a year earlier and +3% from the quarter before.
Was Federal Realty Investment Trust profitable in the third quarter 2025?
Operating profit was $111M (34.3% of revenue) and net earnings $61.6M.