Getty Realty Corp. reported its financial results for the second quarter of 2025, revealing total revenues of $53.3 million, a 6.4% increase from $49.9 million in the same period last year. The growth was primarily driven by a rise in rental income, which reached $52.7 million, up from $48.7 million in the prior year. However, net earnings for the quarter decreased to $14.0 million, or $0.24 per diluted share, compared to $16.7 million, or $0.30 per diluted share, in the second quarter of 2024. For the first half of 2025, total revenues were $105.6 million, up from $98.9 million in the same period of 2024, while net earnings fell to $28.8 million from $33.4 million year-over-year.
The company experienced a notable increase in operating expenses, which rose to $30.0 million for the quarter, compared to $23.9 million in the previous year. This increase was attributed to higher depreciation and amortization costs, as well as increased environmental expenses. Additionally, Getty Realty recorded impairment charges of $0.5 million for the quarter, reflecting adjustments related to environmental liabilities. The company also reported gains on the disposition of real estate amounting to $1.6 million, significantly higher than the $0.1 million recorded in the same quarter last year.
Strategically, Getty Realty continued to expand its portfolio, acquiring 29 properties for a total of $87.2 million during the first half of 2025. This acquisition activity included various property types such as convenience stores and express tunnel car washes. The company’s total assets increased to $2.0 billion as of June 30, 2025, up from $1.97 billion at the end of 2024. The company also reported a total of 1,137 properties in its portfolio, located across 44 states and Washington, D.C.
In terms of financial management, Getty Realty's total liabilities increased to $1.03 billion, up from $1.01 billion at the end of 2024. The company has a robust liquidity position, with $275 million available under its credit facility and $7.5 million in cash and cash equivalents. The company’s debt includes $925 million in total outstanding debt, with a significant portion subject to interest rate swaps to mitigate interest rate risk. Looking ahead, Getty Realty remains focused on its investment strategy, which aims to enhance its portfolio through acquisitions and redevelopment projects while maintaining compliance with its financial covenants.
About GETTY REALTY CORP /MD/
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.