Short answer
JBG SMITH Properties (JBGS) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $124M (down 8.9% year over year) with net income of −$29M.
Q3 2025 key financials · XBRL
- Revenue
- $124M
- −8.9% YoY · −2.1% QoQ
- Net income
- −$29M
- −5.8% YoY · −48.4% QoQ
- EPS (diluted)
- −$0.48
- −50.0% YoY · −54.8% QoQ
Source: XBRL data from the JBG SMITH Properties (JBGS) Q3 2025 10-Q on SEC EDGAR. USD.
JBG SMITH Properties Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Cash and equivalents $87.8M as of Sept 30, 2025, down $95.4M vs $183.2M at Dec 31, 2024
- Operating cash flow $40.6M for 9M 2025 vs $87.2M for 9M 2024
- Investing cash flow $397.1M for 9M 2025, up from $82.4M in 9M 2024, driven by $537.6M real estate sale proceeds
- Financing cash flow used $533.2M in 9M 2025 vs $199.9M used in 9M 2024, due to large debt repayments and $435.8M share repurchases
- No updated revenue, profitability, margin, segment data or guidance provided in this section
Risk Factors
- New risk: Prolonged 2025 U.S. government shutdown dampening Washington D.C. metro leasing demand, triggered by federal operations uncertainty
- Updated operational risk: Office portfolio occupancy up 90 bps to 75.7% Q3 2025; 618,000 sq ft taken out of service impacting competitive office inventory
- Regulatory risk: July 4, 2025 tax law changes increased REIT asset test threshold for taxable REIT subsidiaries from 20% to 25% after 12/31/2025
- Market risk: Multifamily portfolio occupancy improved to 87.2% as of Sept 30, 2025, driven by lease-up of new assets The Grace, Reva, Zoe, and Valen
- Financial risk: $75 million net borrowing on revolving credit facility and $435.3 million common shares repurchased during nine months ended Sept 30, 2025
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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