Filing Flows › Independence Realty Trust (IRT) › Q1 2026
Independence Realty Trust (IRT) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Independence Realty Trust (IRT) reported revenue of $165M for the first quarter 2026 (Q1 2026), +3% from a year earlier and -1% from the quarter before. Operating margin was 13.1%, net loss $127K (0.1% of revenue).
Independence Realty Trust, Q1 2026: revenue $165M (+2% year over year), operating margin 13.1%, net loss $127K, operating cash flow $55.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $165M | -1% | +3% |
| Operating profit | $21.7M | -37% | -20% |
| Net earnings | −$127K | -100% | -102% |
| Operating cash flow | $55.3M | -8% | -8% |
| Free cash flow | $53.4M | -8% | +0.3% |
What changed
Revenue was $165.3M in Q1 2026, up 3% year over year and down 1% from the previous quarter.
Operating profit was $21.7M, a 13.1% margin (down 3.7 points year over year). Operating profit fell $5.4M even though revenue rose $4.1M versus Q1 2025, so costs grew faster than sales. Total costs grew 7% against revenue growth of 3%. The quarter ended with a net loss of $127K, after a profit of $34.0M the previous quarter. Net interest and other expense of $21.9M was the main reason.
Operating cash flow was $55.3M (down 8% year over year). Non-cash charges added back $64.6M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $11.6M. Capital expenditures of $1.9M left free cash flow of $53.4M.
Questions
What was Independence Realty Trust's revenue in the first quarter 2026?
Independence Realty Trust (IRT) reported revenue of $165M for the first quarter 2026 (Q1 2026), +3% from a year earlier and -1% from the quarter before.
Was Independence Realty Trust profitable in the first quarter 2026?
Operating profit was $21.7M (13.1% of revenue) and net loss $127K.