NYSE$KW
Kennedy-Wilson Holdings Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Kennedy-Wilson reported its Q4 2024 earnings with significant improvements in net income and Adjusted EBITDA.
Kennedy-Wilson Holdings, Inc. reported a strong fourth quarter and full year 2024, with Q4 GAAP Net Income of $33.1 million compared to a loss in the prior year. Adjusted EBITDA also saw substantial growth, reaching $190.8 million. The company completed over $4 billion in capital deployment for the full year and generated $122 million in cash from asset sales in Q4.
- GAAP Net Income (Loss) to Common Shareholders improved significantly to $33.1 million in Q4 2024 from a loss of $247.8 million in Q4 2023.
- Adjusted EBITDA increased to $190.8 million in Q4 2024 from a loss of $129.4 million in Q4 2023, driven by realized gains on real estate sales and increased investment management fees.
- Investment Management Fees grew by 83% in Q4 2024 to $30 million, primarily due to recurring base management fees and originations from the debt investment platform.
- The company generated $122 million in cash from $615 million in gross asset sales in Q4 2024, with a 43% company share.
Headline financials
Revenue & EPS history
Kennedy-Wilson · Revenue · Quarterly
$136
Revenue by segment
Kennedy-Wilson · $119M total across 2 segments · Q3 2023
- Rental$102M-7.7%86.1%
- Hotel$16.6M+18.6%13.9%
Forward guidance
Kennedy Wilson is focused on growing its rental housing and investment management business while reducing unsecured debt in 2025. The company has minimal equity commitments for current development projects in FY-25 and a strong pipeline for new originations in Q1-25.
Tailwinds
- Global platform continues to gain momentum.
- Focused on growing rental housing business.
- Focused on growing investment management business.
- Minimal equity commitments related to current development projects in FY-25.
- Strong pipeline of over $1 billion in new originations for Q1-25, primarily multifamily or student-housing construction projects.
Headwinds
- Uncertainties in estimating fair value for investments due to lack of liquidity in capital markets and limited transactions.
- Accuracy of estimated fair value for investments cannot be determined with precision.
- Macroeconomic conditions, including interest rate fluctuations, may impact business results.
- Potential impact of withholding taxes on cash repatriation from foreign subsidiaries.
- Covenant implications from KWE Notes may impact availability of funds at the corporate level.
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 2024
-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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