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KW NYSE· Kennedy-Wilson Holdings Inc.
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KW NYSE· Kennedy-Wilson Holdings Inc.
Earnings report Q4 2023

KW Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

In the latest quarter, KW reported total revenue of $562.6 million. This represents a significant increase compared to the previous quarter's revenue of $540.0 million. The company's revenue has been steadily growing over the past five years, with the highest revenue reported in 2020 at $569.7 million.

Strengths

KW's strong revenue growth in the latest quarter can be attributed to several factors. The company has been successful in attracting and maintaining high-quality employees, which has contributed to its overall performance. Additionally, KW has a diverse portfolio of properties and investments, allowing it to capitalize on various market opportunities. Management has also highlighted the positive impact of transaction activity on revenue, which has been consistent over time.

Challenges

Despite the strong revenue growth, KW reported a net loss of $341.8 million in the latest quarter. This is a significant decrease compared to the previous quarter's net income of $64.8 million. The company's net income has been volatile over the past five years, with fluctuations in non-cash fair value gains and losses impacting the overall profitability. KW also faces challenges related to mortgage debt and unsecured debt, which have increased over the years.

Noteworthy

It is worth noting that KW's adjusted EBITDA, a key financial metric, decreased by 67.9% in the latest quarter compared to the previous quarter. This decline in adjusted EBITDA reflects the challenges faced by the company in maintaining profitability. However, KW's consolidated NOI and JV NOI both showed positive growth in the latest quarter, indicating the strength of its operating performance.

Summary

KW reported strong revenue growth in the latest quarter, reaching $562.6 million. This growth can be attributed to the company's ability to attract and maintain high-quality employees and capitalize on transaction activity. However, KW also faced challenges, including a net loss of $341.8 million and a decrease in adjusted EBITDA. Despite these challenges, KW's operating performance, as reflected in its consolidated NOI and JV NOI, remained positive. Overall, KW's revenue performance in the latest quarter demonstrates its ability to generate consistent growth in a competitive market.

Source documents

Form 10-K  filed on Feb 22, 2024
75 pages scanned

Reference data

Company financials Q4 revenue 116M
Analyst estimates Q4 EPS missed by -420.23%
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