Filing Flows › Wheeler Real Estate Investment Trust (WHLR) › Q4 2025
Wheeler Real Estate Investment Trust (WHLR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 5, 2026
Wheeler Real Estate Investment Trust (WHLR) reported revenue of $25.2M for the fourth quarter 2025 (Q4 2025), -9% from a year earlier and +6% from the quarter before. Operating margin was 42.2%, net earnings $482K (1.9% of revenue).
Wheeler Real Estate Investment Trust, Q4 2025: revenue $25.2M (-9% year over year), operating margin 42.2%, net earnings $482K, operating cash flow $2.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.2M | +6% | -9% |
| Operating profit | $10.6M | +94% | +129% |
| Net earnings | $482K | -96% | -99% |
| Operating cash flow | $2.4M | -56% | -56% |
What changed
Revenue was $25.2M in Q4 2025, down 9% year over year and up 6% from the previous quarter.
Operating profit was $10.6M, a 42.2% margin (up 25.4 points year over year). Total costs fell 37% while revenue fell 9%. Net earnings were −$819K. The effective tax rate was 0.0%.
Operating cash flow was $2.4M (down 56% year over year), 491% of net income including minority interests. Non-cash charges added back $5.3M of depreciation and amortization. Working capital and other items used $3.4M. Capital expenditures of $4.6M exceeded it, leaving free cash flow of −$2.2M.
Questions
What was Wheeler Real Estate Investment Trust's revenue in the fourth quarter 2025?
Wheeler Real Estate Investment Trust (WHLR) reported revenue of $25.2M for the fourth quarter 2025 (Q4 2025), -9% from a year earlier and +6% from the quarter before.
Was Wheeler Real Estate Investment Trust profitable in the fourth quarter 2025?
Operating profit was $10.6M (42.2% of revenue) and net earnings $482K.
Source: Wheeler Real Estate Investment Trust 10-K on SEC EDGAR.