Filing Flows › Independence Realty Trust (IRT) › Q3 2025
Independence Realty Trust (IRT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Independence Realty Trust (IRT) reported revenue of $167M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +3% from the quarter before. Operating margin was 18.2%, net earnings $6.9M (4.1% of revenue).
Independence Realty Trust, Q3 2025: revenue $167M (+4% year over year), operating margin 18.2%, net earnings $6.9M, operating cash flow $79.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $167M | +3% | +4% |
| Operating profit | $30.5M | +11% | -1% |
| Net earnings | $6.9M | -14% | -44% |
| Operating cash flow | $79.3M | -4% | +15% |
| Free cash flow | $75.3M | -2% | +39% |
What changed
Revenue was $167.1M in Q3 2025, up 4% year over year and up 3% from the previous quarter.
Operating profit was $30.5M, a 18.2% margin (down 1.1 points year over year). Operating profit fell $454K even though revenue rose $7.0M versus a year earlier, so costs grew faster than sales. Total costs grew 6% against revenue growth of 4%. Net earnings were $6.9M, down 44% year over year. The effective tax rate was 0.0%.
Operating cash flow was $79.3M (up 15% year over year), 1134% of net earnings. Non-cash charges added back $61.7M of depreciation and amortization. Working capital and other items added $10.6M. Capital expenditures of $4.0M left free cash flow of $75.3M.
Questions
What was Independence Realty Trust's revenue in the third quarter 2025?
Independence Realty Trust (IRT) reported revenue of $167M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +3% from the quarter before.
Was Independence Realty Trust profitable in the third quarter 2025?
Operating profit was $30.5M (18.2% of revenue) and net earnings $6.9M.