Filing Flows › Rexford Industrial Realty (REXR) › Q3 2025
Rexford Industrial Realty (REXR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 20, 2025
Rexford Industrial Realty (REXR) reported revenue of $253M for the third quarter 2025 (Q3 2025), +5% from a year earlier and +1% from the quarter before. Operating margin was 37.2%, net earnings $89.9M (35.5% of revenue).
Rexford Industrial Realty, Q3 2025: revenue $253M (+5% year over year), operating margin 37.2%, net earnings $89.9M, operating cash flow $150M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $253M | +1% | +5% |
| Operating profit | $94.2M | -9% | -3% |
| Net earnings | $89.9M | -23% | +33% |
| Operating cash flow | $150M | +17% | +18% |
| Free cash flow | $60.5M | +35% | +735% |
What changed
Revenue was $253.2M in Q3 2025, up 5% year over year and up 1% from the previous quarter.
Operating profit was $94.2M, a 37.2% margin (down 2.9 points year over year). Operating profit fell $2.7M even though revenue rose $11.4M versus a year earlier, so costs grew faster than sales. Total costs grew 10% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $89.9M, up 33% year over year. The effective tax rate was 0.0%.
Operating cash flow was $149.6M (up 18% year over year), 161% of net income including minority interests. Non-cash charges added back $81.2M of depreciation and amortization and $11.9M of share-based compensation. Working capital and other items used $36.5M. Capital expenditures of $89.2M left free cash flow of $60.5M.
Questions
What was Rexford Industrial Realty's revenue in the third quarter 2025?
Rexford Industrial Realty (REXR) reported revenue of $253M for the third quarter 2025 (Q3 2025), +5% from a year earlier and +1% from the quarter before.
Was Rexford Industrial Realty profitable in the third quarter 2025?
Operating profit was $94.2M (37.2% of revenue) and net earnings $89.9M.