NYSE$KW

Kennedy-Wilson Holdings Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Reported significant growth in investment management business and progress in developments.

Kennedy Wilson reported a strong second quarter with a 32% quarterly growth in fee-bearing capital, driven by the acquisition of a loan portfolio from Pacific Western Bank. Adjusted EBITDA increased by 65% to $195.1 million.

  • Adjusted EBITDA increased by 65% to $195 million.
  • Fee-Bearing Capital grew by 32% to $7.9 billion.
  • The company completed construction of the 82-acre Kona Village resort.
  • Acquired a $4.1 billion loan portfolio from Pacific Western Bank, increasing Fee-Bearing Capital by $1.9 billion.

Headline financials

Total Revenue

$147M

Previous: $136M+7.6%
EPS (adj)

$0.62

Previous: -$0.07+985.7%
Adjusted EBITDA

$195M

No prior period
Fee-Bearing Capital

$7.9B

Previous: $5.3B+49.1%
Capital Expenditures

-$93.5M

Previous: -$59.7M-56.6%
Free Cash Flow

-$46.2M

Previous: -$60.6M+23.8%
Net Income

$47.3M

Previous: -$900K+5355.6%
Operating Income

-$51.8M

Previous: -$57M+9.1%
Gross Profit

$98.1M

Previous: $92.1M+6.5%
Cash & Equivalents

$387M

Previous: $461M-16.0%
Total Assets

$8.19B

Previous: $8.32B-1.5%
Stock-Based Comp

$7.3M

Previous: $7.3M+0.0%

Revenue & EPS history

Kennedy-Wilson · Revenue · Quarterly

$147M

Q2 2023+7.6%vs Q2 2022
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Revenue by segment

Kennedy-Wilson · $122M total across 2 segments · Q2 2023

  • Rental
    $107M-2.5%
  • Hotel
    $15.5M+22.0%

Forward guidance

Kennedy Wilson is focused on expanding its real estate debt business and pursuing equity and debt opportunities across the real estate capital structure.

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 2023

Historical avgQ2 2023

-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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