NYSE$KW

Kennedy-Wilson Holdings Inc · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

Reported second quarter 2020 results, facing an uncertain environment stemming from the COVID-19 pandemic.

Kennedy Wilson reported a GAAP Net Loss of $42.1 million. However, they maintained high occupancy rates, collected 97% of multifamily and office rents, and preserved a strong financial position with $1.1 billion in cash and credit availability. They also launched a new $2 billion debt platform and continued development initiatives.

  • Strong Liquidity Position: $788 million in cash and $300 million available on its line of credit.
  • 6% Growth in Fee-Bearing Capital: Fee-Bearing Capital totaled $3.5 billion as of June 30, 2020, a 6% increase from 1Q-20 and a 17% increase from YE-19.
  • Launched a $2 Billion Debt Platform to pursue first mortgage loans secured by high-quality real estate in the Western U.S., Ireland and the U.K.
  • 2Q-20 Adjusted EBITDA of $73 million.

Headline financials

Total Revenue

$107M

Previous: $144M-25.6%
EPS (adj)

-$0.30

Previous: $0.36-183.3%
Fee-Bearing Capital

$3.5B

Previous: $0.00
Capital Expenditures

-$78.7M

Previous: -$57.2M-37.6%
Free Cash Flow

-$118M

Previous: $84M-240.2%
Net Income

-$39.1M

Previous: $141M-127.7%
Operating Income

-$53.6M

Previous: -$58.2M+7.9%
Gross Profit

$72.7M

Previous: $94.7M-23.2%
Cash & Equivalents

$788M

Previous: $404M+95.0%
Total Assets

$7.07B

Previous: $7B+1.0%
Stock-Based Comp

$8.3M

Previous: $7.2M+15.3%

Revenue & EPS history

Kennedy-Wilson · Revenue · Quarterly

$107M

Q2 2020-25.6%vs Q2 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Kennedy-Wilson · $99M total across 2 segments · Q2 2020

  • Rental
    $98.9M
  • Hotel
    $100K

Forward guidance

No specific forward guidance was given in the provided text.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2020

Historical avgQ2 2020

-0.0%

Avg return

Earnings day

+0.5%

Avg return

5 days after

-0.0%

Avg return

30 days after

48%

31 / 65 earnings

Positive

+13.1%

Q4 2015

Best reaction

-8.8%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.3%+0.9%+0.8%
Q4 2025-0.1%+0.6%+0.7%
Q3 2025-2.3%-1.0%-1.0%
Q1 2025-7.0%-2.9%-0.8%
Q4 2024+4.4%+7.2%-6.1%
Q3 2024+1.4%+5.4%+1.9%
Q2 2024+3.6%+1.8%+9.4%
Q1 2024+11.6%+18.4%+11.0%
Q4 2023-6.4%-16.9%-18.8%
Q3 2023-4.0%-4.2%-8.6%
Q2 2023+0.1%+1.9%-2.3%
Q1 2023-8.8%-10.0%-0.2%
Q4 2022-3.1%-4.8%-10.8%
Q3 2022-5.6%-2.8%+1.4%
Q2 2022-3.6%+0.1%-11.1%
Q1 2022-2.0%-8.0%-7.0%
Q4 2021-2.1%-3.2%+6.6%
Q3 2021+3.6%+5.6%-1.2%
Q2 2021+3.2%+3.5%+9.9%
Q1 2021-3.2%-3.8%-3.7%
Q4 2020+2.4%+2.0%+13.3%
Q3 2020+2.6%+6.0%+18.6%
Q2 2020-4.4%+0.7%-2.1%
Q1 2020+5.5%+3.1%+25.3%
Q4 2019-2.8%-1.9%-35.9%
Q3 2019+0.5%+1.8%-1.2%
Q2 2019+4.3%-1.1%-2.4%
Q1 2019+1.9%+4.5%-4.6%
Q4 2018-0.5%+0.6%+2.4%
Q3 2018+5.4%+2.8%+4.1%
Q2 2018+4.1%+4.3%+2.6%
Q1 2018-2.1%-0.3%+7.1%
Q4 2017+0.6%-0.9%+3.3%
Q3 2017-1.5%-0.8%-1.5%
Q2 2017-0.8%-1.8%-3.5%
Q1 2017-2.2%-1.7%-2.5%
Q4 2016+3.1%+3.8%-0.2%
Q3 2016+5.1%+7.1%-0.2%
Q2 2016+1.3%+1.8%+7.0%
Q1 2016-3.0%
Q4 2015+13.1%
Q3 2015+4.7%
Q2 2015-3.8%
Q1 2015-2.2%
Q4 2014+1.5%
Q3 2014-1.5%
Q2 2014+6.1%
Q1 2014+5.0%
Q4 2013-0.3%
Q3 2013+1.7%
Q2 2013+1.2%
Q1 2013+3.3%
Q4 2012-4.1%
Q3 2012+0.3%
Q2 2012-0.3%
Q1 2011+0.0%
Q1 2012+1.0%
Q4 2009-5.0%
Q4 2011-5.0%
Q3 2010-7.4%
Q3 2011-7.4%
Q2 2011-2.2%
Q2 2010-2.2%
Q4 2010-1.2%
Q1 2010+2.9%

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