IRSA Inversiones y Representaciones S.A announces its results for the first quarter of Fiscal Year 2027 ended September 30, 2026
Total adjusted EBITDA rose 9.3% as improved Sales and Developments results offset a decline in rental-segment adjusted EBITDA.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
IRSA Inversiones y Representaciones (NYSE: IRS) reported a net loss of ARS 6,380 million for its first quarter of FY2027. For the quarter ended September 30, 2026, revenue reached ARS 179,892 million versus ARS 172,373 million a year earlier. The prior-year net profit was ARS 217,952 million; the company attributed the reversal mainly to investment-property fair-value losses. Rental-segment adjusted EBITDA fell 2.0% to ARS 83,933 million, while total adjusted EBITDA rose 9.3%.
Land swaps for three additional Ramblas del Plata plots totaled USD 19.5 million. Oeste Outlet and Distrito Diagonal are scheduled to open in FY2027, bringing the shopping mall portfolio to 19 assets. Premium office occupancy reached 96.9%. Shareholders approved a ARS 211,000 million cash dividend on October 22, with payments starting November 3, 2026 and a stated yield of 10.8%.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointRevenue reached ARS 179,892 million versus ARS 172,373 million in the first quarter of FY2026.
- Moderate pointConsolidated gross profit increased to ARS 111,187 million from ARS 105,825 million a year earlier.
- Moderate pointTotal adjusted EBITDA rose 9.3%, driven by improved Sales and Developments results.
- Moderate pointShopping mall revenue and adjusted EBITDA grew in line with inflation during the quarter.
- Moderate pointARS 211,000 million cash dividend approved October 22; payments started November 3, 2026, with a stated 10.8% yield.
- Moderate pointUSD 19.5 million land swaps signed for three additional Ramblas del Plata plots during and after the quarter. 1.9% of market cap
3 minor points
- Minor pointRamblas del Plata infrastructure works continued to advance.
- Minor point. Forward-looking: it has not happened yet and may not happen.Oeste Outlet and Distrito Diagonal construction advanced; FY2027 openings are scheduled to expand the portfolio to 19 assets.
- Minor pointTotal liabilities decreased to ARS 2,459,980 million at September 30, 2026 from ARS 2,575,801 million at June 30.
Negative
- Moderate pointNet loss of ARS 6,380 million compared with a first-quarter FY2026 profit of ARS 217,952 million.
- Moderate pointOperating result fell to ARS 992 million from ARS 365,754 million in the first quarter of FY2026.
- Moderate pointRental-segment adjusted EBITDA fell 2.0% year over year to ARS 83,933 million.
- Moderate pointShopping mall tenants' sales declined 6.1% in real terms versus the same quarter of the previous fiscal year.
- Minor pointInvestment-property fair-value loss of ARS 74,236 million replaced a year-earlier gain of ARS 293,294 million.
4 minor points
- Minor pointBasic and diluted EPS were both ARS -12.62, versus ARS 272.10 and ARS 251.12, respectively, a year earlier.
- Minor pointPremium office occupancy slipped to 96.9% quarter over quarter after one Dot Building floor became vacant; rents remained stable.
- Minor pointTotal assets fell to ARS 5,008,755 million at September 30, 2026 from ARS 5,136,966 million at June 30.
- Minor pointShareholders' equity fell to ARS 2,548,775 million at September 30, 2026 from ARS 2,561,165 million at June 30.
Key Figures
- Net result
- Loss of ARS 6,380 million
- Q1 FY2027, versus a gain of ARS 217,952 million in Q1 FY2026
- Rental-segment Adjusted EBITDA
- ARS 83,933 million
- Q1 FY2027; 2.0% below the same period of FY2026
- Total Adjusted EBITDA
- Increased 9.3%
- Q1 FY2027, driven by improved Sales and Developments results
- Real tenant sales
- Declined 6.1%
- Shopping malls, year over year
- Land swap agreements
- USD 19.5 million
- Three additional Ramblas del Plata plots
- Cash dividend
- ARS 211,000 million
- Approved October 22, 2026; payment started November 3, 2026
- Dividend yield
- 10.8%
- Yield represented by the approved cash dividend
- Premium office occupancy
- 96.9%
- Q1 FY2027
Previous Earnings Reports
-
Reported a net gain, driven by fair-value gains on investment properties, with rental EBITDA growth.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
adjusted ebitda financial
fair value financial
non-controlling interest financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
HIGHLIGHTS
- The net result for the first quarter of FY2027 recorded a loss of ARS 6,380 million, compared to a gain of
ARS 217,952 million in the same period of FY2026, mainly explained by losses arising from changes in the fair value of investment properties. - Adjusted EBITDA from rental segments reached ARS 83,933 million,
2.0% below the level recorded in the same period of FY2026. Meanwhile, total Adjusted EBITDA increased by9.3% , driven by improved results in the Sales and Developments segment. - Shopping Mall revenues and Adjusted EBITDA grew in line with inflation during the quarter, while tenants' sales declined by
6.1% in real terms compared to the same period of the previous fiscal year. - During the quarter and after quarter-end, we signed land swap agreements for three additional plots at Ramblas del Plata totaling
USD 19.5 million and continued to make progress on the project's infrastructure works. We also advanced construction at Oeste Outlet and Distrito Diagonal, both scheduled to open during FY2027, expanding our shopping mall portfolio to 19 assets. - Our premium office portfolio reached an occupancy rate of
96.9% , reflecting a slight decrease from the previous quarter due to the vacancy of one floor at Dot Building, while average rental rates per sqm remained stable. - On October 22, 2026, the Shareholders' Meeting approved a cash dividend distribution of ARS 211,000 million, representing a dividend yield of
10.8% , with payment date starting on November 3, 2026.
|
Financial Highlights |
||
|
(In millions of Argentine Pesos) |
||
|
3M FY 2027 |
||
|
Income Statement |
09/30/2026 |
09/30/2025 |
|
Revenues |
179,892 |
172,373 |
|
Consolidated Gross Profit |
111,187 |
105,825 |
|
Net result from changes in the fair value of investment properties |
(74,236) |
293,294 |
|
Consolidated Result from Operations |
992 |
365,754 |
|
Result for the Period |
(6,380) |
217,952 |
|
|
|
|
|
Attributable to: |
|
|
|
IRSA's Shareholders |
(10,566) |
205,161 |
|
Non-Controlling interest |
4,186 |
12,791 |
|
|
|
|
|
EPS (Basic) |
(12.62) |
272.10 |
|
EPS (Diluted) |
(12.62) |
251.12 |
|
|
|
|
|
Balance Sheet |
09/30/2026 |
06/30/2026 |
|
Current Assets |
761,110 |
844,109 |
|
Non-Current Assets |
4,247,645 |
4,292,857 |
|
Total Assets |
5,008,755 |
5,136,966 |
|
Current Liabilities |
400,435 |
481,956 |
|
Non-Current Liabilities |
2,059,545 |
2,093,845 |
|
Total Liabilities |
2,459,980 |
2,575,801 |
|
Non-Controlling Interest |
145,506 |
148,836 |
|
Shareholders' Equity |
2,548,775 |
2,561,165 |
The Company's market capitalization as of September 30, 2026, was approximately
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), the
To access the Webinar:
https://us02web.zoom.us/webinar/register/WN_D6janOLMTDybHszPCC-PkA
Webinar ID: 897 2400 7884
Password: 393750
In addition, you can also participate by dialing the following numbers:
Investor Relations Department.
+ 5411 4323-7449
ir@irsa.com.ar
https://www.irsa.com.ar/en/investors/
Follow us on X @irsair
View original content to download multimedia:https://www.prnewswire.com/news-releases/irsa-inversiones-y-representaciones-sa-announces-its-results-for-the-first-quarter-of-fiscal-year-2027-ended-september-30-2026-302929276.html
SOURCE IRSA Inversiones y Representaciones S.A.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Why did IRSA report a loss in the first quarter of FY2027?
IRSA attributed its ARS 6,380 million net loss mainly to losses from changes in investment-property fair values. The fair-value result was a loss of ARS 74,236 million, compared with a gain of ARS 293,294 million in the first quarter of FY2026.
How much was IRSA's approved cash dividend and when did payments start?
Shareholders approved a ARS 211,000 million cash dividend on October 22, 2026, with payments starting November 3, 2026. The distribution represented a stated dividend yield of 10.8%.