Filing Flows › KBS Real Estate Investment Trust III (KBSR) › Q4 2024
KBS Real Estate Investment Trust III (KBSR) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 14, 2025
KBS Real Estate Investment Trust III (KBSR) reported revenue of $69.4M for the fourth quarter 2024 (Q4 2024), -6% from a year earlier and +1% from the quarter before. Operating margin was -23.0%, net earnings $18.7M (27.0% of revenue).
KBS Real Estate Investment Trust III, Q4 2024: revenue $69.4M (-6% year over year), operating margin -23.0%, net earnings $18.7M, operating cash flow $825K. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $69.4M | +1% | -6% |
| Operating profit | −$16.0M | — | — |
| Net earnings | $18.7M | — | — |
| Operating cash flow | $825K | — | -81% |
What changed
Revenue was $69.4M in Q4 2024, down 6% year over year and up 1% from the previous quarter.
Operating costs exceeded revenue by $16.0M, an operating margin of -23.0%. Total costs fell 29% while revenue fell 6%. The fastest-growing cost line was General & admin (+73%). Net earnings were $18.7M. The effective tax rate was 0.0%. Non-operating items added $34.7M, 185% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $825K (down 81% year over year), 4% of net earnings. Non-cash charges added back $27.6M of depreciation and amortization. Working capital and other items used $45.6M. Capital expenditures of $5.9M exceeded it, leaving free cash flow of −$5.1M.
Questions
What was KBS Real Estate Investment Trust III's revenue in the fourth quarter 2024?
KBS Real Estate Investment Trust III (KBSR) reported revenue of $69.4M for the fourth quarter 2024 (Q4 2024), -6% from a year earlier and +1% from the quarter before.
Was KBS Real Estate Investment Trust III profitable in the fourth quarter 2024?
Operating loss was $16.0M (-23.0% of revenue) and net earnings $18.7M.
Source: KBS Real Estate Investment Trust III 10-K on SEC EDGAR.