NYSE$KW

Kennedy-Wilson Holdings Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported strong results driven by NOI and investment management growth.

Kennedy Wilson reported strong Q4 and record full year 2021 results, driven by increased property values, NOI growth, and a strong investment management business. The company's Q4 Adjusted EBITDA was $187 million, and they completed $1.5 billion in investment transactions during the quarter.

  • FY-21 Adjusted EBITDA Increased by 53% to $928 million.
  • 4Q-21 Adjusted EBITDA to $187 million (vs. $347 million in 4Q-20).
  • Completed $5.9 billion in Investment Transactions in FY-21 Which Grew Estimated Annual NOI by $40 Million and Fee-Bearing Capital by $1.1 Billion.
  • Completed $1.5 billion in Investment Transactions in 4Q-21 Which Grew Estimated Annual NOI by $21 Million and Fee-Bearing Capital by $200 Million.

Headline financials

Total Revenue

$131M

Previous: $107M+23.4%
EPS (adj)

$0.27

Previous: $1.21-77.7%
Adjusted EBITDA

$187M

Previous: $347M-46.0%
Adjusted Net Income

$85.5M

Previous: $223M-61.6%
Net Income

$44.3M

Previous: $173M-74.3%
Operating Income

$72.3M

No prior period
Gross Profit

$91.6M

Previous: $70.1M+30.7%
Cash & Equivalents

$525M

Previous: $965M-45.6%
Total Assets

$7.88B

Previous: $7.33B+7.5%
Stock-Based Comp

$6.8M

Previous: $7.8M-12.8%

Revenue & EPS history

Kennedy-Wilson · Revenue · Quarterly

$131M

Q4 2021+23.4%vs Q4 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Kennedy-Wilson · $119M total across 2 segments · Q4 2021

  • Rental
    $111M+16.5%
  • Hotel
    $7.9M+125.7%

Forward guidance

Kennedy Wilson's forward guidance anticipates continued long-term growth, supported by a $300 million investment from Fairfax Financial Holdings and a focus on growing NOI and the investment management business.

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 2021

Historical avgQ4 2021

-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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