Filing Flows › Washington Trust Bancorp (WASH) › Q1 2025
Washington Trust Bancorp (WASH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Washington Trust Bancorp (WASH) reported revenue of $59.1M for the first quarter 2025 (Q1 2025), +21% from a year earlier. Operating margin was 26.5%, net earnings $12.2M (20.6% of revenue).
Washington Trust Bancorp, Q1 2025: revenue $59.1M (+21% year over year), operating margin 26.5%, net earnings $12.2M, operating cash flow $8.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $59.1M | — | +21% |
| Operating profit | $15.7M | — | +14% |
| Net earnings | $12.2M | — | +11% |
| Operating cash flow | $8.4M | — | +334% |
| Free cash flow | $8.4M | — | +533% |
What changed
Revenue was $59.1M in Q1 2025, up 21% year over year. Wealth Management Revenues was the largest line at 17% of revenue. Wealth Management Revenues added $553K year over year (up 6%), 5% of the total change. Other Income declined 2%.
Operating profit was $15.7M, a 26.5% margin (down 1.7 points year over year). Of the extra revenue versus a year earlier, 19% reached operating profit, below the 28% margin then. Total costs grew 24% against revenue growth of 21%. The fastest-growing cost line was Other operating costs (+25%). Net earnings were $12.2M, up 11% year over year. The effective tax rate was 22.3%.
Operating cash flow was $8.4M (up 334% year over year), 69% of net earnings. Non-cash charges added back $894K of depreciation and amortization and $780K of share-based compensation. Working capital and other items used $5.4M. Capital expenditures of $88K left free cash flow of $8.4M.
Questions
What was Washington Trust Bancorp's revenue in the first quarter 2025?
Washington Trust Bancorp (WASH) reported revenue of $59.1M for the first quarter 2025 (Q1 2025), +21% from a year earlier.
Was Washington Trust Bancorp profitable in the first quarter 2025?
Operating profit was $15.7M (26.5% of revenue) and net earnings $12.2M.