Quarterly ResultMay 6, 2026, 04:44 PM
Kennedy Wilson Q1 Net Income $13.7M; Adj. EBITDA $141.8M
AI Summary
Kennedy Wilson reported its first quarter 2026 financial results, with GAAP Net Income to common shareholders turning positive at $13.7 million, a significant improvement from a loss of $40.8 million in Q1 2025. Adjusted EBITDA also saw a substantial increase to $141.8 million from $98.2 million year-over-year. The company's Investment Management fees grew by 11% to $28 million, and it recognized $45 million in fair value gains from its Co-Investment portfolio. Additionally, Kennedy Wilson provided an update on its pending merger transaction, with the special shareholders meeting scheduled for June 10, 2026.
Key Highlights
- GAAP Net Income to Common Shareholders was $13.7M in Q1 2026, up from ($40.8M) in Q1 2025.
- Adjusted EBITDA increased to $141.8M in Q1 2026 from $98.2M in Q1 2025.
- Investment Management fees rose 11% to $28M, driven by higher Fee-Bearing Capital.
- Fair value gains in the Co-Investment portfolio totaled $45M, primarily from global rental housing.
- Multifamily Same Property NOI increased 2.0%, with Affordable up 8.2% and Market Rate up 0.2%.
- Generated $90M cash from dispositions and completed $585M in recapitalizations in Q1 2026.
- The special shareholders meeting for the pending merger is scheduled for June 10, 2026.