NYSE$KW

Kennedy-Wilson Holdings Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported Q4 and full year 2022 results, demonstrating growth in estimated annual NOI and fee-bearing capital.

Kennedy Wilson reported solid growth of 11% in multifamily same property NOI. The company remains focused on growing recurring cash flow in 2023 through the delivery of key development projects, organic NOI growth, and the continued expansion of its investment management platform.

  • Adjusted EBITDA of $147 million, compared to $187 million in Q4-21, driven by higher recurring investment income offset by lower gains.
  • Share of property NOI, loan income, and fees totaled $128 million, an increase of $2 million from Q4-21.
  • Realized gains from asset sales totaled $53 million.
  • Estimated Annual NOI grew by 13% to $491 million from Q4-21.

Headline financials

Total Revenue

$140M

Previous: $131M+6.2%
EPS (adj)

$0.16

Previous: $0.27-40.7%
Fee-Bearing Capital

$5.9B

No prior period
Net Income

$39.2M

Previous: $44.3M-11.5%
Operating Income

$52.9M

Previous: $72.3M-26.8%
Gross Profit

$90.1M

Previous: $91.6M-1.6%
Cash & Equivalents

$439M

Previous: $525M-16.3%
Total Assets

$8.27B

Previous: $7.88B+5.0%
Stock-Based Comp

$7.3M

Previous: $6.8M+7.4%

Revenue & EPS history

Kennedy-Wilson · Revenue · Quarterly

$140M

Q4 2022+6.2%vs Q4 2021
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Revenue by segment

Kennedy-Wilson · $124M total across 2 segments · Q4 2022

  • Rental
    $111M-0.3%
  • Hotel
    $13.7M+73.4%

Forward guidance

Kennedy Wilson remains focused on growing recurring cash flow in 2023 through the delivery of several key development projects, organic NOI growth, and continued expansion of the investment management platform.

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 2022

Historical avgQ4 2022

-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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