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American Assets Trust AAT Q1 2025 earnings

Reported April 29, 2025 · After market close

Revenue$108.6MMiss by $3.4M
EPS$0.52Beat by $0.07
Revenue estimate$112.0M
EPS estimate$0.45

Next report

Oct 27, 2026 (in 3 months)
Revenue estimate$111.8M
EPS estimate$0.10

Financials

Q1 2025

Income statement

See full
Revenue$108.6M-1.9%
Gross profit$67.3M-3.3%
Operating income$72.0M+136%
Net income$42.5M+121%
EPS (diluted)$0.70+119%

Balance sheet

See full
Cash & equivalents$143.9M+46.0%
Total debt$20.0M-11.8%
Total equity$1.2B-0.1%
Total assets$3.0B-0.7%

Cash flow

See full
Operating cash flow$36.9M-32.7%
CapEx$16.4M+50.3%
Free cash flow$20.4M-53.4%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$1.23B-7.7%
Enterprise value$1.11B-12.0%
P/E15.4×-9.6×
P/S2.7×-0.3×

Profitability

See full
Gross margin63.2%+0.5pp
Operating margin37.4%+9.8pp
Net margin17.6%+5.5pp
FCF margin24.9%-2.6pp

Returns & leverage

See full
Return on equity6.7%+2.3pp
Debt / equity0×0.0×

Segments

By segment

See full
Office$50.9M-1.5%
Retail$24.6M-5.3%
Multifamily$16.8M+3.3%
Mixed-use$16.2M-2.6%

Versus estimates

Revenue

Q2 2026$109.5MMiss by $1.2MQ1 2026$110.6MBeat by $816.5KQ4 2025$110.1MBeat by $1.4MQ3 2025$109.6MBeat by $2.7MQ2 2025$107.9MMiss by $1.5M
Q1 2025$108.6MMiss by $3.4M

Diluted EPS

Q2 2026$0.09Miss by $0.01Q1 2026$0.51In lineQ4 2025$0.47Miss by $0.01Q3 2025$0.49In lineQ2 2025$0.52Beat by $0.03
Q1 2025$0.52Beat by $0.07

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Questions, answered.

When did American Assets Trust report Q1 2025 earnings?
American Assets Trust (AAT) reported Q1 2025 earnings on April 29, 2025 after market close.
What were American Assets Trust's Q1 2025 revenue and EPS?
American Assets Trust reported revenue of $108.6M and eps of $0.52 for Q1 2025.
Did American Assets Trust beat estimates in Q1 2025?
Revenue missed the consensus estimate of $112.0M by $3.4M. EPS beat the consensus estimate of $0.45 by $0.07.
How did American Assets Trust's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.9% from $110.7M a year earlier and eps declined 26.8% from $0.71.
Where can I find American Assets Trust's Q1 2025 SEC filings?
You can read the 10-Q periodic report (0001500217-25-000032) directly on SEC EDGAR. The filing index links above go to sec.gov.