The sharp swing to a net loss driven by fair value losses on investment properties signals potential volatility in asset valuations. Monitor the impact of inflation and tenant sales trends on shopping mall revenue and the progress of new developments (Oeste Outlet, Distrito Diagonal) for portfolio growth.
How the stock moved after the report
BEARISH VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 3 $12.39entry
- T+1 · yesterday −2.18%α +2.23% · $12.12
- T+2 · todayOpen
- T+5 · in 4d Pending
- T+20 · in 26d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
IRSA reported a net loss of ARS 6,380 million for the first quarter of FY2027, compared to a profit of ARS 217,952 million in the same period last year, driven by fair value losses on investment properties. Adjusted EBITDA from rental segments fell 2.0% to ARS 83,933 million, while total Adjusted EBITDA rose 9.3% on improved Sales and Developments results. The company also announced an ARS 211,000 million dividend (10.8% yield) approved on October 22, 2026, with payment starting November 3, 2026.
Key Facts
- Net loss of ARS 6,380 million for Q1 FY2027 vs. profit of ARS 217,952 million in Q1 FY2026
- Loss attributable to controlling company shareholders was ARS 10,566 million
- Adjusted EBITDA from rental segments fell 2.0% to ARS 83,933 million
- Total Adjusted EBITDA increased 9.3% driven by Sales and Developments segment
- Shopping mall tenants' sales declined 6.1% in real terms year-over-year
- Premium office portfolio occupancy at 96.9%, down slightly from prior quarter
- Shareholders' meeting on October 22, 2026 approved ARS 211,000 million cash dividend (10.8% yield)
- Dividend payment started November 3, 2026
- Company signed land swap agreements totaling USD 19.5 million at Ramblas del Plata
- Construction advancing at Oeste Outlet and Distrito Diagonal, expected to open during FY2027
Financial Impact
Net income swung from ARS 217,952 million profit to ARS 6,380 million loss; rental segment Adjusted EBITDA down 2.0%; ARS 211,000 million dividend approved
Risk Factors
- Fair value losses on investment properties may continue if Argentine economic conditions deteriorate
- Tenant sales declining 6.1% in real terms could pressure shopping mall revenue growth
- High inflation environment in Argentina may erode real returns despite nominal revenue growth
- Dividend of ARS 211,000 million represents a 10.8% yield but may strain cash flows if operating results weaken
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000933267-26-000077 |
| Document: 0000933267-26-000077-index-headers.html | 0000933267-26-000077 |
| Document: 0000933267-26-000077-index.html | 0000933267-26-000077 |
| Document: 0000933267-26-000077.txt | 0000933267-26-000077 |
| Earnings Context (Synthetic; results releases only) | 0000933267-26-000077 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 3, 2026 2d ago | 6-K | $12.39 $12.12 | ▲ +2.18% | ▼ −2.23% | $12.12 (+2.18%) |
Oct 29, 2026 7d ago | 6-K | $14.25 $12.40 | ▼ −12.98% | ▼ −12.50% | $12.12 (−14.95%) |
Oct 29, 2026 7d ago | 6-K | $14.25 $12.40 | ▼ −12.98% | ▼ −12.50% | $12.12 (−14.95%) |
Oct 23, 2026 13d ago | 6-K | $14.65 $14.25 | ▼ −2.73% | ▼ −3.44% | $12.12 (−17.27%) |
Oct 22, 2026 14d ago | 6-K | $14.21 $14.65 | ▲ +3.10% | ▲ +3.62% | $12.12 (−14.71%) |
Oct 22, 2026 14d ago | 6-K | $14.21 $14.65 | ▲ +3.10% | ▲ +3.62% | $12.12 (−14.71%) |
Oct 21, 2026 15d ago | 20-F | $14.25 $14.21 | ▼ −0.28% | ▲ +0.90% | $12.12 (−14.95%) |
Oct 16, 2026 20d ago | 6-K | $14.13 $14.17 | ▲ +0.28% | ▼ −0.14% | $12.12 (−14.23%) |
Sep 23, 2026 6w ago | 6-K | $15.11 $14.80 | ▼ −2.05% | ▼ −1.97% | $12.12 (−19.79%) |
Sep 17, 2026 7w ago | 6-K | $16.02 $15.47 | ▼ −3.43% | ▼ −3.31% | $12.12 (−24.34%) |
US Market Status
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