FX.co ★ Kilroy Realty Q1 Profit Down

On Thursday, Kilroy Realty Corporation (KRC) disclosed their first-quarter net income, amounting to $49.9 million—equivalent to $0.42 per share. This was a decline from last year's first-quarter earnings of $56.6 million or $0.48 per share.

The company's funds from operations (FFO) during the quarter were recorded at $133.7 million or $1.11 per share, lower than the previous year's $146.0 million or $1.22 per share.

Chalking up a decline in their revenues, KRC reported earning $278.6 million for the quarter, a decrease from last year's $292.8 million.

According to the expectations of analysts polled by Thomson Reuters, the company's earnings were projected to be $0.43 per share with revenues predicted to come at around $275.06 million for the quarter.

As for the company's anticipations for the entirety of 2024, Kilroy is now projecting its earnings to fall within the range of $1.46 to $1.61 per share. They also forecast their FFO per share to range between $4.15 to $4.30. Earlier, the company held an expectation of $1.45 to $1.61 per share for earnings, and revenues to be between $4.10 to $4.25 per share.