The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Kilroy Realty beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly, and GAAP earnings per share increased significantly.
Gross margins expanded, operating margins dropped, net margins increased.
Kilroy Realty reported revenue of $101.5 million. The seven analysts polled by S&P Capital IQ expected revenue of $99.4 million. Sales were 22% higher than the prior-year quarter's $82.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at -$0.01. The four earnings estimates compiled by S&P Capital IQ forecast $0.02 per share on the same basis. GAAP EPS of $1.39 for Q4 were much higher than the prior-year quarter's $0.03 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 72.7%, 160 basis points better than the prior-year quarter. Operating margin was 27.0%, 100 basis points worse than the prior-year quarter. Net margin was 43.1%, 3,840 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $99.4 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $409.0 million. The average EPS estimate is $0.11.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 40 members out of 147 rating the stock outperform, and 107 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 13 give Kilroy Realty a green thumbs-up, and 44 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kilroy Realty is outperform, with an average price target of $39.84.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.