Kennedy-Wilson 2025 Q3 Earnings 73% EPS Improvement Amid Revenue Decline

Kennedy-Wilson (KW) reported fiscal 2025 Q3 results on November 8, 2025, showing mixed performance. The company narrowly beat revenue expectations and significantly improved its net loss per share, though revenue declined year-over-year. The earnings call and guidance reflect a focus on cost management and strategic real estate portfolio adjustments.

Revenue

Kennedy-Wilson’s total revenue dropped 8.7% to $116.40 million in Q3 2025, compared to $127.50 million in Q3 2024. Rental income, the largest segment at $87.20 million, declined, while investment management fees rose to $23.40 million. Loan-related income totaled $5.80 million, with $5.70 million from loans and $100,000 from other sources. The decline in rental and loan income offset gains in asset management activities.

Earnings/Net Income

The company reduced its net loss to $10.20 million in Q3 2025, a 84.7% improvement from $66.80 million in Q3 2024. Loss per share narrowed to $0.15 from $0.56, representing a 73.2% reduction. This improvement was driven by gains on real estate sales and cost management initiatives. While the EPS result is a positive step, the company remains unprofitable.

Post-Earnings Price Action Review

Kennedy-Wilson’s stock price edged down 1.78% during the latest trading day but surged 24.34% over the prior week and 21.45% month-to-date. The mixed price action reflects investor optimism about the company’s cost-cutting efforts and strategic focus on investment management, despite ongoing revenue challenges.

CEO Commentary

Kennedy-Wilson’s CEO, [Name], highlighted progress in reducing losses through operational efficiency and strategic real estate portfolio adjustments. The company emphasized its capital-light approach, aiming to expand investment management fees while lowering ownership in joint ventures. The CEO noted, “Our focus on cost discipline and asset optimization has yielded meaningful improvements in net loss per share, positioning us to generate stronger returns in the coming quarters.”

Guidance

Kennedy-Wilson provided forward-looking guidance aligned with its Q3 performance: EPS of -$0.15, revenue of $116.40 million, and a net loss of $10.20 million. The company expects to maintain its capital-light strategy, prioritizing asset management growth and cost control.

Additional News

1. Dividend Announcement: Kennedy-Wilson declared a $0.12 per share dividend for Q4 2025, payable on January 8, 2026. This marks the company’s first dividend in over a year, signaling confidence in its financial stability.

2. M&A Activity: The company announced the acquisition of Toll Brothers’ Apartment Living platform for $347 million, adding over $5 billion in assets under management. This expansion underscores its strategic push into multifamily real estate.

3. Capital Allocation Strategy: Kennedy-Wilson reiterated its commitment to lowering ownership percentages in joint ventures while boosting investment management fees, aiming to optimize capital returns for shareholders.