Filing Flows › W. P. Carey (WPC) › Q1 2025
W. P. Carey (WPC) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
W. P. Carey (WPC) reported revenue of $410M for the first quarter 2025 (Q1 2025), +5% from a year earlier and +0.9% from the quarter before. Operating margin was 46.7%, net earnings $126M (30.7% of revenue).
W. P. Carey, Q1 2025: revenue $410M (+5% year over year), operating margin 46.7%, net earnings $126M, operating cash flow $273M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $410M | +0.9% | +5% |
| Operating profit | $191M | +4% | +2% |
| Net earnings | $126M | +167% | -21% |
| Operating cash flow | $273M | -8% | -74% |
What changed
Revenue was $409.9M in Q1 2025, up 5% year over year and up 1% from the previous quarter. Owned Real Estate Segment was the largest line at 99% of revenue. Owned Real Estate Segment added $20.6M year over year (up 5%), 103% of the total change. Asset management revenue declined 29%.
Operating profit was $191.4M, a 46.7% margin (down 1.2 points year over year). Of the extra revenue versus a year earlier, 23% reached operating profit, below the 48% margin then. Total costs grew 8% against revenue growth of 5%. Net earnings were $125.8M, down 21% year over year. The effective tax rate was 8.5%.
Operating cash flow was $273.2M (down 74% year over year), 217% of net earnings. Non-cash charges added back $134.5M of depreciation and amortization and $9.1M of share-based compensation.
Questions
What was W. P. Carey's revenue in the first quarter 2025?
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Was W. P. Carey profitable in the first quarter 2025?
Operating profit was $191M (46.7% of revenue) and net earnings $126M.
Source: W. P. Carey 10-Q on SEC EDGAR.