Quarterly ResultApr 27, 2026, 04:48 PM
KRC Q1 FFO $0.91; FY26 FFO Guidance Raised; $350M Property Sales
AI Summary
Kilroy Realty Corporation reported Q1 2026 financial results, with FFO of $0.91 per diluted share and a net loss of $(0.16) per diluted share. Despite the decline in Q1 earnings year-over-year, the company achieved its strongest first-quarter leasing activity since 2017, totaling 568,000 square feet. KRC also raised its full-year 2026 FFO guidance to $3.49-$3.63 per diluted share and completed approximately $350 million in non-core property sales year-to-date, while repurchasing $72.7 million in common stock.
Key Highlights
- Q1 2026 FFO was $0.91 per diluted share, down from $1.02 in Q1 2025.
- Q1 2026 Net loss was $(0.16) per diluted share, compared to $0.33 income in Q1 2025.
- Full-year 2026 FFO guidance raised to $3.49-$3.63 per diluted share from $3.25-$3.45.
- Year-to-date property sales totaled approximately $350 million, including $202.0 million in April.
- Signed 568,000 square feet of leases in Q1, strongest Q1 performance since 2017.
- Repurchased 2.4 million shares for $72.7 million at $30.80 per share.
- Acquired 1900 Broadway site, 58% pre-leased with a 145,000 sq ft lease.
- Declared a regular quarterly cash dividend of $0.54 per share.