Filing Flows › Invitation Homes (INVH) › Q1 2026
Invitation Homes (INVH) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Invitation Homes (INVH) reported revenue of $734M for the first quarter 2026 (Q1 2026), +9% from a year earlier and +7% from the quarter before. Operating margin was 10.8%, net earnings $161M (21.9% of revenue).
Invitation Homes, Q1 2026: revenue $734M (+9% year over year), operating margin 10.8%, net earnings $161M, operating cash flow $293M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $734M | +7% | +9% |
| Operating profit | $79.4M | -17% | -20% |
| Net earnings | $161M | +11% | -3% |
| Operating cash flow | $293M | +128% | -2% |
What changed
Revenue was $734.1M in Q1 2026, up 9% year over year and up 7% from the previous quarter.
Operating profit was $79.4M, a 10.8% margin (down 3.8 points year over year). Operating profit fell $19.3M even though revenue rose $59.6M versus Q1 2025, so costs grew faster than sales. Total costs grew 14% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $160.5M, down 3% year over year. The effective tax rate was 0.0%. Non-operating items added $81.7M, 51% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $293.0M (down 2% year over year), 182% of net earnings. Non-cash charges added back $195.6M of depreciation and amortization and $10.7M of share-based compensation. Working capital and other items used $74.3M.
Questions
What was Invitation Homes' revenue in the first quarter 2026?
Invitation Homes (INVH) reported revenue of $734M for the first quarter 2026 (Q1 2026), +9% from a year earlier and +7% from the quarter before.
Was Invitation Homes profitable in the first quarter 2026?
Operating profit was $79.4M (10.8% of revenue) and net earnings $161M.
Source: Invitation Homes 10-Q on SEC EDGAR.