NYSE$KW
Kennedy-Wilson Holdings Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Kennedy Wilson reported record quarterly GAAP EPS, Adjusted EBITDA, and Adjusted Net Income.
Kennedy Wilson reported strong Q4 2020 results, highlighted by increased transactional activity generating significant gains on sale. The company saw substantial growth in fee-bearing capital and expansion of its debt platform. Key dispositions and acquisitions contributed to record financial results.
- Increased transactional activity generated $286 million in gains on sale through strategic dispositions and acquisitions.
- Fee-Bearing Capital grew by 30% annually, reaching $3.9 billion.
- The company formed a new $1 billion urban logistics platform in a joint venture with GIC.
- The debt platform grew to $788 million with $662 million of loan investments completed during the year.
Headline financials
Revenue & EPS history
Kennedy-Wilson · Revenue · Quarterly
$107M
Revenue by segment
Kennedy-Wilson · $107M total across 3 segments · Q4 2020
- Rental$95.1M-14.6%89.3%
- Investment Management Fees$7.9M-41.0%7.4%
- Hotel$3.5M-80.1%3.3%
Forward guidance
Kennedy Wilson refinanced the majority of its unsecured debt maturing in 2024 by issuing $1 billion of unsecured bonds to improve the weighted average interest rate by 1%.
Tailwinds
- Issued $1 billion of unsecured bonds with a weighted average maturity of 9 years.
- Improved the weighted average interest rate of 1%, resulting in $10 million in annual savings.
- Repaid $100 million on the revolving line of credit, leaving $400 million available to draw.
- The company expects to reduce interest expense by $10 million annually.
- Positioned themselves for the long term.
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 Q4 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
| Quarter | Report date | Reaction (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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