IRSA Inversiones y Representaciones S.A announces its results for the first quarter of Fiscal Year 2026 ended September 30, 2025
Financial Performance: IRSA reported a net gain of ARS 163,438 million for Q1 FY 2026, a significant improvement from a loss of ARS 143,662 million in Q1 FY 2025, primarily due to gains from investment properties.
Revenue Growth: Adjusted EBITDA from rental segments increased by 3.5% to ARS 64,256 million, with shopping mall revenues growing by 6.6%, despite a 7.0% decline in real tenant sales.
Acquisitions and Developments: The company acquired the "Al Oeste" shopping center for USD 9 million and continued construction on the Distrito Diagonal shopping center in La Plata.
Dividend Announcement: A cash dividend distribution of ARS 173,788 million was approved, yielding 10% for shareholders, reflecting the company's strong financial position.
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- Expected Refund Growth: Early data from the Treasury indicates that the average tax refund for 2023 has reached $2,290, an approximate 11% increase from last year, while Trump's tax law is projected to provide an average of $1,000 in stimulus per household in 2026, highlighting the positive impact of the policy.
- Policy Impact Analysis: Trump's tax law changes could further enhance refund growth by increasing the federal deduction cap for state and local taxes and introducing a 'no tax on overtime' deduction, directly affecting households' disposable income and spending power.
- Market Reaction: Research from investment bank Piper Sandler suggests that Trump's 'retroactive tax cuts' could average around $1,000 per refund, although some taxpayers may see significantly higher amounts, which would positively influence market consumption.
- Data Trend Observation: Although current data is still in its early stages, tax policy expert Andrew Lautz notes that typically by late February, refund amounts significantly increase due to the inclusion of earned income tax credits and additional child tax credits, indicating potential for greater refund growth in the coming weeks.

Stock Sale Announcement: ELSZTAINEDUARDO intends to sell 4.43 million shares of its common stock, valued at approximately $7.4 million, on February 5.
Reduction in Shareholding: ELSZTAINEDUARDO has decreased its shareholding in IRS A Inversiones y Representaciones (IRS.U.S) by 1,075 shares since December 12, 2025, with a total value of around $1,719.86.
- Profitability Improvement: IRSA reported a GAAP EPS of ARS283.72 for the first half of fiscal 2026, indicating a significant enhancement in the company's profitability and resilience amid uncertain market conditions.
- Revenue Growth: The company achieved revenue of ARS292 billion in the first half, reflecting a 4.7% year-over-year increase, demonstrating its competitive strength and effective sales strategies in the market.
- Financial Condition Recovery: The first half recorded a gain of ARS248,817 million, a stark contrast to a loss of ARS53,896 million in the same period of 2025, showcasing successful cost control and revenue growth initiatives.
- Increased Market Confidence: This financial performance not only boosts investor confidence in IRSA but also lays the groundwork for future investments and expansions, further solidifying its market position.
- Call for Investigation: Senator Ron Johnson expressed on CNN that he prefers a thorough investigation into the leak of Trump's tax information over paying the $10 billion lawsuit, highlighting concerns over government spending and accountability.
- Trump Family Lawsuit: Trump and his sons filed a lawsuit against the IRS and Treasury in federal court, alleging failure to implement necessary safeguards for tax records and seeking $10 billion in damages, indicating serious concerns about tax information security.
- Leak Background: IRS contractor Charles Edward Littlejohn admitted to leaking Trump's tax data to The New York Times and ProPublica, resulting in a five-year prison sentence, emphasizing the legal ramifications of unauthorized disclosures.
- Legal Timeline Dispute: The Trump family argues they only learned of the leak source in December 2024, filing under a federal statute that allows claims for unauthorized disclosures, raising concerns about taxpayer funding for potential damages, which critics view as a misuse of public funds.

Financial Performance: IRSA reported a net gain of ARS 163,438 million for Q1 FY 2026, a significant improvement from a loss of ARS 143,662 million in Q1 FY 2025, primarily due to gains from investment properties.
Revenue Growth: Adjusted EBITDA from rental segments increased by 3.5% to ARS 64,256 million, with shopping mall revenues growing by 6.6%, despite a 7.0% decline in real tenant sales.
Acquisitions and Developments: The company acquired the "Al Oeste" shopping center for USD 9 million and continued construction on the Distrito Diagonal shopping center in La Plata.
Dividend Announcement: A cash dividend distribution of ARS 173,788 million was approved, yielding 10% for shareholders, reflecting the company's strong financial position.

Company Announcement: IRSA Inversiones y Representaciones S.A. has filed its 20-F Form for Fiscal Year 2025 with the SEC, covering the period ended June 30, 2025.
Access to Financial Statements: The 20-F document is available on the company's website, and shareholders can request a hard copy of the audited financial statements at no cost.
Company Overview: IRSA is Argentina's largest real estate company, listed on both the BYMA and NYSE, managing a diverse portfolio that includes shopping centers, office buildings, and luxury hotels.
Additional Information: The company also holds a stake in Banco Hipotecario, the largest mortgage supplier in Argentina, further diversifying its business interests.








