Filing Flows › Independence Realty Trust (IRT) › Q1 2025
Independence Realty Trust (IRT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Independence Realty Trust (IRT) reported revenue of $161M for the first quarter 2025 (Q1 2025), +0.4% from a year earlier and +0.2% from the quarter before. Operating margin was 16.8%, net earnings $8.4M (5.2% of revenue).
Independence Realty Trust, Q1 2025: revenue $161M (+0.4% year over year), operating margin 16.8%, net earnings $8.4M, operating cash flow $60.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $161M | +0.2% | +0.4% |
| Operating profit | $27.1M | -26% | -5% |
| Net earnings | $8.4M | — | -52% |
| Operating cash flow | $60.4M | -5% | +37% |
| Free cash flow | $53.2M | +10% | +78% |
What changed
Revenue was $161.2M in Q1 2025, roughly flat year over year and roughly flat from the previous quarter.
Operating profit was $27.1M, a 16.8% margin (down 1.0 points year over year). Operating profit fell $1.5M even though revenue rose $709K versus a year earlier, so costs grew faster than sales. Total costs grew 2% against flat revenue. Net earnings were $8.4M, down 52% year over year. The effective tax rate was 0.0%.
Operating cash flow was $60.4M (up 37% year over year), 708% of net income including minority interests. Non-cash charges added back $58.7M of depreciation and amortization and $3K of share-based compensation. Working capital and other items used $6.9M. Capital expenditures of $7.1M left free cash flow of $53.2M.
Questions
What was Independence Realty Trust's revenue in the first quarter 2025?
Independence Realty Trust (IRT) reported revenue of $161M for the first quarter 2025 (Q1 2025), +0.4% from a year earlier and +0.2% from the quarter before.
Was Independence Realty Trust profitable in the first quarter 2025?
Operating profit was $27.1M (16.8% of revenue) and net earnings $8.4M.