(Save the date: RealShareApartments comesto the Westin Bonaventure, Los Angeles, October 24.)
BEVERLY HILLS, CA-Despite a net loss of $3.4 million in thefirst quarter, executives at Kennedy-Wilson HoldingsInc. are pleased with the company’s financial outlook andconsider it to be on track with expectations set out for the year,according to chairman and CEO William McMorrow,who spoke during the company’s recent earnings call.
“We had a very good first quarter, clearly in line with theexpectations we set out for the year,” said McMorrow during thecall. The company’s earnings before interest, taxes, depreciationand stock-based compensation expense (EBITDA) for the first quarterwas $19.2 million compared to $15.1 million in the first quarter of2011. McMorrow had said in an earlier statement that K-W has begunto realize gains on some assets acquired in 2010 and 2011, and thatthe company continues to see many opportunities to grow therecurring cash flow through reinvestment of the return of capitaland gains achieved from sales.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
