KENNEDY WILSON (DG CHAMAHA This interest Millillill als UNIVERSITY GLEN Southern California 150222222 Q3|EARNINGS RELEASE AND 2024| INFORMATION Kennedy-Wilson Holdings, Inc. Supplemental Financial Information For the Quarter Ended September 30, 2024 Earnings Release News Release 3 Consolidated Balance Sheets (unaudited) 8 Consolidated Statements of Operations (unaudited) 9 Non-GAAP Metrics (unaudited) 10 Supplemental Financial Information (unaudited) Capitalization Summary 16 Components of Value Components ...

Investors interested in stocks from the Real Estate - Operations sector have probably already heard of KennedyWilson (KW) and Zillow (Z) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estim ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-33824 Kennedy-Wilson Holdings, Inc. (Exact name of Registrant as specified in its charter) Delaware 26-050876 ...

Financial Data and Key Metrics - Adjusted EBITDA for Q2 2024 totaled $79 million, with a year-to-date total of $283 million [12] - GAAP net loss for Q2 2024 was $0.43 per share, including $0.46 per share of non-cash items [12] - Investment Management revenue grew by 37% to $26 million in Q2, driven by $1 billion in new originations and higher fee-bearing capital [12] - Estimated annual NOI grew by 5% to $485 million, with AUM reaching $27 billion, a 16% annual growth rate [6] - Fee-bearing capital grew to a record $8.7 billion, with potential to grow to $15 billion [6] Business Line Performance - The credit platform deployed $1.7 billion in the first half of 2024, primarily for multifamily and student housing construction [4] - The multifamily portfolio stabilized five communities in Q2, adding $16 million to estimated annual NOI [5] - The industrial portfolio acquired two platforms totaling $180 million in Q2, with a strong pipeline of opportunities in the U.S. and U.K. [10] - The investment management business grew fee-bearing capital by 93% over the past three years to $8.7 billion [22] Market Performance - U.S. multifamily portfolio saw same-property occupancy growth of 1.9%, revenue growth of 3.6%, and NOI growth of 3% [16] - California portfolio delivered 5% NOI growth, with Northern California bad debt dropping to the lowest level in two years [17] - Dublin portfolio stabilized two multifamily projects, adding $10 million to estimated annual NOI [19] - European industrial portfolio achieved 98% occupancy, with a 44% increase in rents for leases completed in Q2 [21] Strategic Direction and Industry Competition - The company is focusing on growing its investment management platform, with a strong emphasis on rental housing, credit, and industrial assets [8][9][10] - The company is simplifying its balance sheet by disposing of non-core assets, with $330 million generated from asset sales year-to-date [11] - The company is expanding its credit platform, with a pipeline of $600 million to $700 million in signed deals [10] - The company is leveraging its global relationships, particularly in Japan, to raise capital and expand its investment management business [8][33] Management Commentary on Operating Environment and Future Outlook - Management highlighted improving liquidity in the U.S. apartment sector and beneficial shifts in interest rates, with the 10-year bond declining by 100 basis points [6][7] - The company expects lower interest rates to increase transaction volumes and provide opportunities for capital deployment [7] - Management expressed confidence in the multifamily market, citing a structural shortage of housing in the U.S., U.K., and Ireland [9] - The company anticipates flat to lower insurance premiums in the second half of 2024, following July renewals [16] Other Key Information - The company repurchased 600,000 shares in Q2, bringing the year-to-date total to 1.7 million shares [14] - The company closed its Spanish office after divesting its last wholly owned asset in Spain, generating $35 million in cash [11][12] - The company has $110 million remaining on its $500 million share repurchase authorization [14] Q&A Session Summary Question: Prospects for expanding the debt platform beyond construction lending - The company sees opportunities in construction lending but is also exploring longer-term debt solutions, including permanent and bridge lending [24] Question: Future of the development program - The company is shifting its development strategy to focus on construction management, with 5% to 10% equity stakes in new projects [25] Question: Progress on disposition goals - The company has a substantial pipeline of dispositions and expects to continue shifting its portfolio towards U.S. multifamily assets [26][27] Question: Rationale for including fair value adjustments in adjusted EBITDA - The company introduced baseline EBITDA as a more recurring operating metric, alongside adjusted EBITDA [29][30] Question: Rationale for reopening the Japan office - The company reopened its Japan office to strengthen capital-raising efforts, leveraging long-standing relationships with Japanese institutions [31][33] Question: Impact of declining interest rates on the credit platform - Lower interest rates are expected to increase construction starts and attract new entrants to the market, benefiting the company's credit platform [36][37] Question: Quantification of the Spanish property sale and cost savings - The sale of the Spanish property generated $35 million in cash, with negligible impact on Q3 earnings, and the closure of the Spanish office is expected to save $1 million to $1.5 million annually [41][42] Question: Capital raised from Japan - The company has raised $100 million from Japan for its discretionary fund business, with ongoing discussions with major Japanese companies [40]

KENNEDY WILSON t Ha THE GRANGE DUBLIN, IRELAND | --- | --- | --- | --- | |---------------------------------------------------|-------|-------|-------| | | | | | | | | | | | Q2 EARNINGS RELEASE ANDSUPPLEMENTAL FINANCIAL | | | | | 2024 \| INFORMATION | | | | Kennedy-Wilson Holdings, Inc. Supplemental Financial Information For the Quarter Ended June 30, 2024 TABLE OF CONTENTS | --- | --- | |---------------------------------------------------------------------|-------| | | | | News Release | 3 | | Consolidated ...

Kennedy-Wilson (KW) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. The power of a cha ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended March 31, 2024 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-33824 Kennedy-Wilson Holdings, Inc. (Exact name of Registrant as specified in its charter) FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 26-0508760 ( ...

Kennedy-Wilson Holdings, Inc. (NYSE:KW) Q1 2024 Results Conference Call May 9, 2024 12:00 PM ET Company Participants Daven Bhavsar - Vice President, Investor Relations William McMorrow - Chairman & Chief Executive Officer Justin Enbody - Chief Financial Officer Matthew Windisch - President Conference Call Participants Anthony Paolone - JPMorgan Joshua Dennerlein - Bank of America Conor Peaks - Deutsche Bank Operator Good day, and welcome to the Kennedy-Wilson First Quarter of 2024 Earnings Call. Please note ...

| Earnings Release | | | --- | --- | | News Release | 3 | | Consolidated Balance Sheets (unaudited) | 7 | | Consolidated Statements of Operations (unaudited) | 8 | | Non-GAAP Metrics (unaudited) | 9 | | Supplemental Financial Information (unaudited) | | | Capitalization Summary | 15 | | Components of Value | | | Components of Value Summary | 16 | | Stabilized Portfolio | 18 | | Segment Investment Summary | 19 | | Multifamily Portfolio | 20 | | Office Portfolio | 21 | | Industrial Portfolio | 22 | | Loan Inv ...

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