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Kilroy Realty (KRC)
NYSE:KRC
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Earnings Data
Report Date
Feb 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.32Last Year’s EPS
$0.4Same Quarter Last Year
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: -2.69%
|Next Earnings Date:Feb 10, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a positive tone with strong financial performance, increased occupancy, and strategic acquisitions. However, challenges remain with short-term leases, market softness in Los Angeles, and upcoming lease expirations in 2026.Company Guidance
During the Q3 2024 earnings call for KRC, the company provided updated guidance for the year, driven by strong quarterly performance. FFO for the third quarter was reported at $1.17 per share, marking a sequential increase of $0.07. Consequently, the full-year FFO guidance was raised by $0.15 per share at the midpoint, now ranging from $4.38 to $4.44 per share. The call highlighted significant leasing activities, including 436,000 square feet of new leases and a 75 basis point increase in occupancy guidance, now targeting 84%. Additionally, the company discussed the acquisition of Junction at Del Mar for $35 million, projecting a low double-digit stabilized yield. Looking ahead, KRC increased its 2024 guidance for same-property NOI growth to a range of -2% to -1.5%, reflecting improvements in leasing dynamics and anticipated occupancy levels.Strong Financial Performance
FFO for the third quarter was $1.17 per share, a sequential increase of $0.07. The full year FFO guidance was increased by $0.15 per share at the midpoint.
Increased Occupancy and Leasing Activity
Signed approximately 436,000 square feet of leases, including notable transactions with SAP and NVIDIA. The average occupancy guidance increased by 75 basis points to 84%.
Acquisition of Junction at Del Mar
Acquired a 104,000 square foot campus for $35 million, yielding a low double-digit stabilized yield and adding strategic value to the San Diego submarket.
Improvement in Key Markets
Observed robust demand in Bellevue and signs of a pickup in South Lake Union and Seattle. Notable improvement in occupancy and foot traffic in San Francisco.
Capital Markets and Land Sales
Progress on land sales expected to generate over $150 million. Capital markets are strengthening with increased transaction volume.
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KRC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KRC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $41.62 | $41.28 | -0.82% |
| Jul 31, 2024 | $36.46 | $34.76 | -4.66% |
| May 02, 2024 | $33.21 | $32.88 | -0.99% |
| Feb 05, 2024 | $32.85 | $32.40 | -1.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Kilroy Realty (KRC) report earnings?
Kilroy Realty (KRC) is schdueled to report earning on Feb 10, 2025, TBA Not Confirmed.
What is Kilroy Realty (KRC) earnings time?
Kilroy Realty (KRC) earnings time is at Feb 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KRC EPS forecast?
KRC EPS forecast for the fiscal quarter 2024 (Q4) is $0.32.
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