Filing Flows › Independence Realty Trust (IRT) › Q2 2025
Independence Realty Trust (IRT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Independence Realty Trust (IRT) reported revenue of $162M for the second quarter 2025 (Q2 2025), +2% from a year earlier and +0.6% from the quarter before. Operating margin was 17.0%, net earnings $8.0M (5.0% of revenue).
Independence Realty Trust, Q2 2025: revenue $162M (+2% year over year), operating margin 17.0%, net earnings $8.0M, operating cash flow $82.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $162M | +0.6% | +2% |
| Operating profit | $27.5M | +1% | -5% |
| Net earnings | $8.0M | -4% | -22% |
| Operating cash flow | $82.2M | +36% | -0.9% |
| Free cash flow | $77.1M | +45% | +10% |
What changed
Revenue was $162.2M in Q2 2025, up 2% year over year and up 1% from the previous quarter.
Operating profit was $27.5M, a 17.0% margin (down 1.4 points year over year). Operating profit fell $1.5M even though revenue rose $3.8M versus a year earlier, so costs grew faster than sales. Total costs grew 4% against revenue growth of 2%. Net earnings were $8.0M, down 22% year over year. The effective tax rate was 0.0%.
Operating cash flow was $82.2M (down 1% year over year), 1006% of net earnings. Non-cash charges added back $59.8M of depreciation and amortization. Working capital and other items added $14.3M. Capital expenditures of $5.1M left free cash flow of $77.1M.
Questions
What was Independence Realty Trust's revenue in the second quarter 2025?
Independence Realty Trust (IRT) reported revenue of $162M for the second quarter 2025 (Q2 2025), +2% from a year earlier and +0.6% from the quarter before.
Was Independence Realty Trust profitable in the second quarter 2025?
Operating profit was $27.5M (17.0% of revenue) and net earnings $8.0M.