Filing Flows › Ryman Hospitality Properties (RHP) › Q3 2025
Ryman Hospitality Properties (RHP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Ryman Hospitality Properties (RHP) reported revenue of $592M for the third quarter 2025 (Q3 2025), +8% from a year earlier and -10% from the quarter before. Operating margin was 15.0%, net earnings $34.9M (5.9% of revenue).
Ryman Hospitality Properties, Q3 2025: revenue $592M (+8% year over year), operating margin 15.0%, net earnings $34.9M, operating cash flow $205M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $592M | -10% | +8% |
| Operating profit | $88.6M | -36% | -16% |
| Net earnings | $34.9M | -51% | -41% |
| Operating cash flow | $205M | +68% | -6% |
| Free cash flow | $135M | +155% | +58% |
What changed
Revenue was $592.5M in Q3 2025, up 8% year over year and down 10% from the previous quarter. Hotel Food and Beverage Banquets was the largest line at 26% of revenue. Hotel, Other added $13.9M year over year (up 24%), 33% of the total change. Hotel Food and Beverage Banquets declined 2%.
Operating profit was $88.6M, a 15.0% margin (down 4.3 points year over year). Operating profit fell $17.3M even though revenue rose $42.5M versus a year earlier, so costs grew faster than sales. Total costs grew 13% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+18%). Net earnings were $34.9M, down 41% year over year ($34.0M including minority interests, which bore $927K of losses). The effective tax rate was -12.0%.
Operating cash flow was $205.2M (down 6% year over year), 604% of net income including minority interests. Non-cash charges added back $73.2M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $94.4M. Capital expenditures of $69.9M left free cash flow of $135.4M.
Questions
What was Ryman Hospitality Properties' revenue in the third quarter 2025?
Ryman Hospitality Properties (RHP) reported revenue of $592M for the third quarter 2025 (Q3 2025), +8% from a year earlier and -10% from the quarter before.
Was Ryman Hospitality Properties profitable in the third quarter 2025?
Operating profit was $88.6M (15.0% of revenue) and net earnings $34.9M.