Filing Flows › Peapack Gladstone Financial (PGC) › Q1 2025
Peapack Gladstone Financial (PGC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Peapack Gladstone Financial (PGC) reported revenue of $64.4M for the first quarter 2025 (Q1 2025), +21% from a year earlier and +4% from the quarter before. Operating margin was 16.2%, net earnings $7.6M (11.8% of revenue).
Peapack Gladstone Financial, Q1 2025: revenue $64.4M (+21% year over year), operating margin 16.2%, net earnings $7.6M, operating cash flow −$7.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $64.4M | +4% | +21% |
| Operating profit | $10.4M | -15% | -16% |
| Net earnings | $7.6M | -18% | -12% |
| Operating cash flow | −$7.9M | — | — |
What changed
Revenue was $64.4M in Q1 2025, up 21% year over year and up 4% from the previous quarter. Banking Segment was the largest line at 75% of revenue. Banking Segment added $10.3M year over year (up 27%), 92% of the total change.
Operating profit was $10.4M, a 16.2% margin (down 7.1 points year over year). Operating profit fell $2.0M even though revenue rose $11.3M versus a year earlier, so costs grew faster than sales. Total costs grew 33% against revenue growth of 21%. Net earnings were $7.6M, down 12% year over year. The effective tax rate was 27.3%.
Operating cash flow was −$7.9M. Non-cash charges added back $1.2M of depreciation and amortization. Working capital and other items used $16.6M. Capital expenditures of $3.6M exceeded it, leaving free cash flow of −$11.5M.
Questions
What was Peapack Gladstone Financial's revenue in the first quarter 2025?
Peapack Gladstone Financial (PGC) reported revenue of $64.4M for the first quarter 2025 (Q1 2025), +21% from a year earlier and +4% from the quarter before.
Was Peapack Gladstone Financial profitable in the first quarter 2025?
Operating profit was $10.4M (16.2% of revenue) and net earnings $7.6M.