NYSE$CBL

CBL & Associates Properties Inc · Q2 2025 earnings

Q2 2025 earnings · · Before market open · Investor relations

Briefing

CBL & Associates Properties Inc reported its Q2 2025 financial results with total revenues of $140.9 million.

The company achieved net income of $2.2 million for the quarter ended June 30, 2025. Rental revenues increased year-over-year primarily due to property consolidations, offset by higher operating expenses and interest costs. Same-center NOI declined 0.5% while portfolio occupancy reached 88.8%.

  • Total revenues reached $140.9 million for the three months ended June 30, 2025.
  • Net income attributable to common shareholders was $2.6 million, or $0.08 per share.
  • Same-center NOI decreased 0.5% year-over-year amid higher property operating expenses.
  • Portfolio occupancy improved to 88.8% with malls, lifestyle centers and outlet centers at 87.3% same-center occupancy.

Headline financials

Total Revenue

$141M

Previous: $130M+8.7%
EPS (adj)

$0.08

Previous: $0.14-42.9%
Portfolio Occupancy

0.9%

Previous: 88.7%-99.0%
Same-Center Occupancy

0.9%

No prior period
Same-Center NOI Growth

-0.0%

No prior period
Capital Expenditures

-$6.16M

Previous: -$9.45M+34.8%
Net Income

$2.76M

Previous: $4.74M-41.8%
Operating Income

$4.06M

Previous: $4.98M-18.4%
Cash & Equivalents

$100M

Previous: $57.7M+73.9%

Revenue & EPS history

CBL & Associates · Revenue · Quarterly

$141M

Q2 2025+8.7%vs Q2 2024
Beat estimate in 4 of 7 quarters(57%)
ActualEstimate

Revenue by segment

CBL & Associates · $133M total across 2 segments · Q1 2023

  • Rental Revenues
    $130M-3.7%
  • Mgmt/Dev/Leasing Fees
    $2.43M+37.6%

Forward guidance

The company completed the WPG acquisition and increased its annualized dividend to $1.80 per share.

Tailwinds

  • Closed WPG acquisition adding four malls for $178.9 million.
  • 12.5% dividend increase authorized for Q3 2025.
  • New $78 million loan on Cross Creek Mall at 6.856% fixed rate.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 17 quarterly earnings reports

Historical avg

+0.3%

Avg return

Earnings day

-0.3%

Avg return

5 days after

-1.4%

Avg return

30 days after

50%

9 / 18 earnings

Positive

+7.0%

Q1 2022

Best reaction

-4.7%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026+0.1%+4.1%+10.1%
Q4 2025-3.6%+1.6%+1.5%
Q3 2025+4.2%+4.2%+13.6%
Q1 2025+0.1%-2.0%-4.1%
Q4 2024+0.2%+0.2%-14.6%
Q3 2024-0.1%-1.2%+11.6%
Q2 2024+2.1%+3.0%+2.9%
Q1 2024-1.2%-1.1%+1.8%
Q4 2023-4.7%-2.7%-5.6%
Q3 2023+1.5%+6.8%+9.1%
Q2 2023+3.0%+0.8%-1.1%
Q1 2023-1.1%-5.1%+2.0%
Q4 2022-2.6%-4.6%-9.1%
Q3 2022-0.1%-1.7%-13.7%
Q2 2022-0.5%-2.9%-6.4%
Q1 2022+7.0%+2.0%+0.1%
Q4 2021+1.3%-0.9%-10.5%
Q3 2021-1.1%-4.9%-11.9%
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