KRC Kilroy Realty (KRC) Q2 FY26 earnings call
Kilroy Realty reported a strong second quarter, driven by robust leasing activity and broad-based market recovery across its West Coast portfolio, particularly in San Francisco. The company is capitalizing on improving supply-demand dynamics and tenant urgency, while strategically managing its capital structure and evaluating acquisition and disposition opportunities. Management expressed optimism for continued execution through the balance of the year, despite some near-term occupancy impacts and development project timelines.
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KRC operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Square feet Leasing productivity | ~568K sq ftAgainst this backdrop, our team's disciplined execution drove our strongest first quarter leasing results since 2017 and total productivity of approximately 568,000 square feet, more than double our first quarter performance last year, positioning us to increase our full year average occupancy guidance by 25 basis points at the midpoint.Source: earnings call transcript | ~376K sq ftDuring the second quarter, we executed approximately 376,000 square feet of new and renewal leases, bringing year-to-date leasing volume to roughly 944,000 square feet, an increase of more than 40% versus the first 6 months of 2025.Source: earnings call transcript | — |
| Occupancy rate | 77.6%As a result, portfolio occupancy ended the quarter at 77.6%, excluding KOP 2, the first quarter occupancy would have been 81.5%, down only 10 basis points despite our previously communicated first quarter move-outs.Source: earnings call transcript | 77%Portfolio occupancy, including KOP 2, ended the quarter at 77%, down 60 basis points from the prior quarter despite 2 previously communicated, largely about that negatively impacted occupancy by approximately 140 basis points.Source: earnings call transcript | -0.6 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.