Filing Flows › Hines Global Income Trust (HGIT) › Q2 2025
Hines Global Income Trust (HGIT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 14, 2025
Hines Global Income Trust (HGIT) reported revenue of $101M for the second quarter 2025 (Q2 2025), +17% from a year earlier and +8% from the quarter before. Operating margin was 6.2%, net loss $26.3M (26.0% of revenue).
Hines Global Income Trust, Q2 2025: revenue $101M (+17% year over year), operating margin 6.2%, net loss $26.3M, operating cash flow $8.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $101M | +8% | +17% |
| Operating profit | $6.3M | -50% | — |
| Net earnings | −$26.3M | -123% | — |
| Operating cash flow | $8.4M | -8% | -53% |
What changed
Revenue was $101.2M in Q2 2025, up 17% year over year and up 8% from the previous quarter. Residential/Living investments was the largest line at 31% of revenue. Industrial investments added $6.8M year over year (up 29%), 46% of the total change. Office investments declined 7%.
Gross margin was 64.5%, up 0.9 points from a year earlier. Operating profit was $6.3M, a 6.2% margin (down 5.1 points year over year). Operating profit fell $3.5M even though revenue rose $14.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 31% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+34%). The quarter ended with a net loss of $26.3M, after a profit of $115.3M the previous quarter. Net interest and other expense of $33.2M was the main reason.
Operating cash flow was $8.4M (down 53% year over year). Non-cash charges added back $35.7M of depreciation and amortization. Working capital and other items used $1.1M. Capital expenditures of $18.5M exceeded it, leaving free cash flow of −$10.2M.
Questions
What was Hines Global Income Trust's revenue in the second quarter 2025?
Hines Global Income Trust (HGIT) reported revenue of $101M for the second quarter 2025 (Q2 2025), +17% from a year earlier and +8% from the quarter before.
Was Hines Global Income Trust profitable in the second quarter 2025?
Operating profit was $6.3M (6.2% of revenue) and net loss $26.3M.