Filing Flows › UDR (UDR) › Q2 2025
UDR (UDR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
UDR (UDR) reported revenue of $425M for the second quarter 2025 (Q2 2025), +2% from a year earlier and +0.8% from the quarter before. Operating margin was 18.2%, net earnings $37.7M (8.9% of revenue).
UDR, Q2 2025: revenue $425M (+2% year over year), operating margin 18.2%, net earnings $37.7M, operating cash flow $250M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $425M | +0.8% | +2% |
| Operating profit | $77.4M | -37% | +13% |
| Net earnings | $37.7M | -51% | +30% |
| Operating cash flow | $250M | +60% | +5% |
| Free cash flow | $190M | +84% | +11% |
What changed
Revenue was $425.4M in Q2 2025, up 2% year over year and up 1% from the previous quarter.
Operating profit was $77.4M, a 18.2% margin (up 1.7 points year over year). Of the extra revenue versus a year earlier, 87% reached operating profit, above the 17% margin then. Total costs grew 0% against revenue growth of 2%. The fastest-growing cost line was SG&A (+11%). Net earnings were $37.7M, up 30% year over year. The effective tax rate was 0.6%.
Operating cash flow was $250.3M (up 5% year over year), 622% of net income including minority interests. Non-cash charges added back $170.6M of depreciation and amortization and $8.8M of share-based compensation. Working capital and other items added $30.8M. Capital expenditures of $60.3M left free cash flow of $190.1M.
Questions
What was UDR's revenue in the second quarter 2025?
UDR (UDR) reported revenue of $425M for the second quarter 2025 (Q2 2025), +2% from a year earlier and +0.8% from the quarter before.
Was UDR profitable in the second quarter 2025?
Operating profit was $77.4M (18.2% of revenue) and net earnings $37.7M.
Source: UDR 10-Q on SEC EDGAR.