Filing Flows › W. P. Carey (WPC) › Q2 2025
W. P. Carey (WPC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
W. P. Carey (WPC) reported revenue of $431M for the second quarter 2025 (Q2 2025), +11% from a year earlier and +5% from the quarter before. Operating margin was 51.6%, net earnings $51.3M (11.9% of revenue).
W. P. Carey, Q2 2025: revenue $431M (+10% year over year), operating margin 51.6%, net earnings $51.3M, operating cash flow $404M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $431M | +5% | +11% |
| Operating profit | $222M | +16% | +42% |
| Net earnings | $51.3M | -59% | -64% |
| Operating cash flow | $404M | +48% | +83% |
What changed
Revenue was $430.8M in Q2 2025, up 11% year over year and up 5% from the previous quarter. Owned Real Estate Segment was the largest line at 99% of revenue. Owned Real Estate Segment added $41.5M year over year (up 11%), 101% of the total change. Asset management revenue declined 23%.
Operating profit was $222.5M, a 51.6% margin (up 11.4 points year over year). Of the extra revenue versus a year earlier, 160% reached operating profit, above the 40% margin then. Total costs fell 11% while revenue rose 11%. Net earnings were $51.2M, down 64% year over year. The effective tax rate was 20.3%.
Operating cash flow was $404.0M (up 83% year over year), 787% of net earnings. Non-cash charges added back $125.0M of depreciation and amortization and $10.9M of share-based compensation. Working capital and other items added $216.7M.
Questions
What was W. P. Carey's revenue in the second quarter 2025?
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Was W. P. Carey profitable in the second quarter 2025?
Operating profit was $222M (51.6% of revenue) and net earnings $51.3M.
Source: W. P. Carey 10-Q on SEC EDGAR.