Kilroy Q3 Revenue Tops Consensus at $271.6M; FY FFO Outlook Set at $3.55-$3.59
KRC sits 31% above its 52-week low of $27.36 on elevated volume (1.9× avg).
Summary
Kilroy posted Q3 revenue of $271.6M, ahead of the $267.4M IBES estimate, with net income of $15.5M and EPS of $0.13. FFO came in at $104.6M and the quarterly dividend stays at $0.54. Management guided full-year FFO per share to $3.55-$3.59. The revenue beat is modest, but it lands after a rough stretch: Q2 revenue also beat consensus while FFO fell sharply, and the 10-Q disclosed a $61.8M impairment with stabilized office occupancy at 77%. The CFO departure in August adds to the execution questions. The key read is whether the FY FFO range holds given that occupancy backdrop.
At the time of this announcement, KRC was trading at $35.96 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $27.36 to $43.58. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.