Filing Flows › Penn Entertainment (PENN) › Q2 2025
Penn Entertainment (PENN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Penn Entertainment (PENN) reported revenue of $1.8B for the second quarter 2025 (Q2 2025), +6% from a year earlier and +6% from the quarter before. Operating margin was 4.4%, net loss $18.3M (1.0% of revenue).
Penn Entertainment, Q2 2025: revenue $1.8B (+6% year over year), operating margin 4.4%, net loss $18.3M, operating cash flow $178M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | +6% | +6% |
| Operating profit | $77.5M | +81% | — |
| Net earnings | −$18.3M | -116% | — |
| Operating cash flow | $178M | +325% | +18% |
| Free cash flow | $18.8M | — | -70% |
What changed
Revenue was $1.8B in Q2 2025, up 6% year over year and up 6% from the previous quarter. Gaming was the largest line at 77% of revenue. Other added $0.06B year over year (up 35%), 55% of the total change.
Operating profit was $0.08B, a 4.4% margin (down 0.1 points year over year). Of the extra revenue versus a year earlier, 3% reached operating profit, below the 4% margin then. Total costs grew 6% against revenue growth of 6%. The quarter ended with a net loss of $0.02B, after a profit of $0.11B the previous quarter. Net interest and other expense of $0.09B was the main reason.
Operating cash flow was $0.18B (up 18% year over year). Non-cash charges added back $0.11B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.07B. Capital expenditures of $0.16B left free cash flow of $0.02B.
Questions
What was Penn Entertainment's revenue in the second quarter 2025?
Penn Entertainment (PENN) reported revenue of $1.8B for the second quarter 2025 (Q2 2025), +6% from a year earlier and +6% from the quarter before.
Was Penn Entertainment profitable in the second quarter 2025?
Operating profit was $77.5M (4.4% of revenue) and net loss $18.3M.
Source: Penn Entertainment 10-Q on SEC EDGAR.