Filing Flows › Rexford Industrial Realty (REXR) › Q1 2025
Rexford Industrial Realty (REXR) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 21, 2025
Rexford Industrial Realty (REXR) reported revenue of $252M for the first quarter 2025 (Q1 2025), +18% from a year earlier and +4% from the quarter before. Operating margin was 35.8%, net earnings $71.2M (28.2% of revenue).
Rexford Industrial Realty, Q1 2025: revenue $252M (+18% year over year), operating margin 35.8%, net earnings $71.2M, operating cash flow $153M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $252M | +4% | +18% |
| Operating profit | $90.4M | -3% | +13% |
| Net earnings | $71.2M | +14% | +16% |
| Operating cash flow | $153M | +31% | +14% |
| Free cash flow | $73.4M | +163% | +36% |
What changed
Revenue was $252.3M in Q1 2025, up 18% year over year and up 4% from the previous quarter.
Operating profit was $90.4M, a 35.8% margin (down 1.7 points year over year). Of the extra revenue versus a year earlier, 26% reached operating profit, below the 38% margin then. Total costs grew 21% against revenue growth of 18%. The fastest-growing cost line was Other operating costs (+25%). Net earnings were $71.2M, up 16% year over year. The effective tax rate was 0.0%.
Operating cash flow was $152.6M (up 14% year over year), 206% of net income including minority interests. Non-cash charges added back $86.7M of depreciation and amortization and $9.7M of share-based compensation. Working capital and other items used $17.9M. Capital expenditures of $79.1M left free cash flow of $73.4M.
Questions
What was Rexford Industrial Realty's revenue in the first quarter 2025?
Rexford Industrial Realty (REXR) reported revenue of $252M for the first quarter 2025 (Q1 2025), +18% from a year earlier and +4% from the quarter before.
Was Rexford Industrial Realty profitable in the first quarter 2025?
Operating profit was $90.4M (35.8% of revenue) and net earnings $71.2M.