(RTTNews) - Kilroy Realty Corp. (KRC) on Monday reported a drop in profit for the second quarter as revenue declined. Funds from operations declined from the prior year. The real estate investment trust reaffirmed its full-year 2026 funds from operations, or FFO, guidance.
For the second quarter, net income declined to $19.9 million or $0.17 per share from $68.4 million or $0.57 per share in the prior-year period. FFO decreased to $109.3 million or $0.92 per share from $135.9 million or $1.13 per share a year ago.
Revenues for the quarter dropped to $272.4 million from $289.9 million a year earlier.
For fiscal year 2026, the company affirmed its Nareit-defined FFO guidance of $3.49 to $3.63 per share.
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