Filing Flows › Penn Entertainment (PENN) › Q1 2025
Penn Entertainment (PENN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Penn Entertainment (PENN) reported revenue of $1.7B for the first quarter 2025 (Q1 2025), +4% from a year earlier and +0.2% from the quarter before. Operating margin was 2.6%, net earnings $112M (6.7% of revenue).
Penn Entertainment, Q1 2025: revenue $1.7B (+4% year over year), operating margin 2.6%, net earnings $112M, operating cash flow $41.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +0.2% | +4% |
| Operating profit | $42.8M | — | — |
| Net earnings | $112M | — | — |
| Operating cash flow | $41.9M | -59% | — |
What changed
Revenue was $1.7B in Q1 2025, up 4% year over year and roughly flat from the previous quarter. Gaming was the largest line at 78% of revenue. Gaming added $0.04B year over year (up 3%), 61% of the total change.
Operating profit was $0.04B, a 2.6% margin (up 3.9 points year over year). Total costs grew 0% against revenue growth of 4%. Net earnings were $0.11B. The effective tax rate was 30.0%. Non-operating items added $0.12B, 73% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.04B, 38% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.19B. Capital expenditures of $0.13B exceeded it, leaving free cash flow of −$0.08B.
Questions
What was Penn Entertainment's revenue in the first quarter 2025?
Penn Entertainment (PENN) reported revenue of $1.7B for the first quarter 2025 (Q1 2025), +4% from a year earlier and +0.2% from the quarter before.
Was Penn Entertainment profitable in the first quarter 2025?
Operating profit was $42.8M (2.6% of revenue) and net earnings $112M.
Source: Penn Entertainment 10-Q on SEC EDGAR.