Filing Flows › Gaming & Leisure Properties (GLPI) › Q2 FY25
Gaming & Leisure Properties (GLPI) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Jul 24, 2025
Gaming & Leisure Properties (GLPI) reported revenue of $395M for the second quarter fiscal 2025 (Q2 FY25), +4% from a year earlier and -0.1% from the quarter before. Operating margin was 61.3%, net earnings $151M (38.4% of revenue).
Gaming & Leisure Properties, Q2 FY25: revenue $395M (+4% year over year), operating margin 61.3%, net earnings $151M, operating cash flow $293M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $395M | -0.1% | +4% |
| Operating profit | $242M | -6% | -18% |
| Net earnings | $151M | -8% | -27% |
| Operating cash flow | $293M | +16% | +16% |
| Free cash flow | $272M | +14% | +11% |
What changed
Revenue was $394.9M in Q2 FY25, up 4% year over year and roughly flat from the previous quarter.
Operating profit was $242.1M, a 61.3% margin (down 15.8 points year over year). Operating profit fell $51.4M even though revenue rose $14.2M versus a year earlier, so costs grew faster than sales. Total costs grew 75% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+87%). Net earnings were $151.4M, down 27% year over year. The effective tax rate was 0.3%.
Operating cash flow was $293.4M (up 16% year over year), 188% of net income including minority interests. Non-cash charges added back $73.5M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items added $57.5M. Capital expenditures of $21.0M left free cash flow of $272.3M.
Questions
What was Gaming & Leisure Properties' revenue in the second quarter fiscal 2025?
Gaming & Leisure Properties (GLPI) reported revenue of $395M for the second quarter fiscal 2025 (Q2 FY25), +4% from a year earlier and -0.1% from the quarter before.
Was Gaming & Leisure Properties profitable in the second quarter fiscal 2025?
Operating profit was $242M (61.3% of revenue) and net earnings $151M.