10-Q - Kilroy Realty, L.P. (0001493976) (Filer)
Thu, Aug 1, 9:13 PM (88 days ago)
Kilroy Realty Corporation's Q2 2024 10-Q shows stable financial performance amidst market uncertainties. The company reported net income available to common stockholders of $49.2 million, a decrease from $55.6 million in Q2 2023. Total revenues slightly declined to $280.7 million from $284.3 million, with rental income contributing $275.9 million. Expenses increased marginally, driven by higher property and administrative costs. Interest expense rose significantly due to increased debt and higher interest rates, while interest income also increased. Cash flow from operations was strong at $256.6 million, though slightly down from $283.6 million in H1 2023. The company maintained a robust liquidity position with $835.9 million in cash and $1.1 billion available under its credit facility. Debt maturities are well-staggered, with the next significant maturity in December 2024. The company continues to focus on development projects and capital recycling to optimize its portfolio. Overall, Kilroy Realty remains financially healthy with careful management of expenses and strategic capital allocation.