| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 4.05 | 14.2% | 16.0% |
| Total Income | 4.05 | 14.2% | 16.0% |
| Expenditure | -15.86 | 166.1% | 75.1% |
| PBT | — | ||
| Net Profit | 19.91 | 203.3% | 70.9% |
| OPM | — | ||
| NPM | 100.00% | 0.00pp | |
| EPS | 0.17 | 206.3% | 70.7% |
Kilroy Realty Corporation Reports Q2 2026 Financial and Operational Results
28 Jul 2026 · 28 Jul, 2:07 am
Summary
Kilroy Realty Corporation reported second quarter 2026 revenues of $272.4 million, a decrease from $289.9 million in the prior year's quarter. Net income available to common stockholders was $19.9 million ($0.17 per diluted share), down from $68.4 million ($0.57 per diluted share) in Q2 2025, and Funds from Operations (FFO) were $109.3 million ($0.92 per diluted share), compared to $135.9 million ($1.13 per diluted share) in the prior year. The company executed approximately 376,000 square feet of leases during the quarter, with strong re-leasing spreads on second-generation space. Kilroy Realty affirmed its full-year 2026 FFO per share guidance of $3.49 to $3.63.
Key Highlights
- 1
Revenues for the quarter ended June 30, 2026, were $272.4 million, compared to $289.9 million for the same period in 2025.
- 2
Net income available to common stockholders was $19.9 million, or $0.17 per diluted share, for Q2 2026, down from $68.4 million, or $0.57 per diluted share, in Q2 2025.
- 3
Funds from operations (FFO) were $109.3 million, or $0.92 per diluted share, for Q2 2026, a decrease from $135.9 million, or $1.13 per diluted share, in Q2 2025.
- 4
The Stabilized Portfolio was 77.0% occupied and 81.5% leased at June 30, 2026.
- 5
During the second quarter, Kilroy Realty Corporation executed approximately 376,000 square feet of leases.
- 6
GAAP and cash rents on leases signed during the quarter increased 27.3% and 15.6%, respectively, on second-generation leasing, excluding leases signed on space vacant for more than 12 months.
- 7
The company affirmed its Nareit-defined FFO per share guidance for the full year 2026 of $3.49 to $3.63 per diluted share.
Management Comments
Angela Aman
Our second quarter results highlight continuing improvement in commercial real estate fundamentals across our West Coast markets, as we work to capitalize on growing market demand against a backdrop of moderating high-quality supply. During the second quarter, we executed nearly 400,000 square feet of new and renewal leases, with re-leasing spreads on comparable second-generation space of 27% and 16% on a GAAP and cash basis, respectively, excluding leases signed on space vacant for more than a year. In addition, we continued to enhance our strategic focus and financial flexibility, closing on approximately $200.0 million of previously announced residential dispositions and recasting and expanding our unsecured credit facilities.
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