Filing Flows › Kilroy Realty (KRC) › Q3 2025
Kilroy Realty (KRC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Kilroy Realty (KRC) reported revenue of $280M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -4% from the quarter before. Operating margin was 58.0%, net earnings $156M (55.8% of revenue).
Kilroy Realty, Q3 2025: revenue $280M (-4% year over year), operating margin 58.0%, net earnings $156M, operating cash flow $177M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $280M | -4% | -4% |
| Operating profit | $162M | +104% | +181% |
| Net earnings | $156M | +128% | +198% |
| Operating cash flow | $177M | +23% | +0.1% |
| Free cash flow | $134M | +15% | +103% |
What changed
Revenue was $279.7M in Q3 2025, down 4% year over year and down 4% from the previous quarter.
Operating profit was $162.3M, a 58.0% margin (up 38.1 points year over year). Total costs fell 49% while revenue fell 4%. Net earnings were $156.2M, up 198% year over year. The effective tax rate was 0.0%.
Operating cash flow was $176.6M (roughly flat year over year), 109% of net income including minority interests. Non-cash charges added back $86.1M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items used $77.2M. Capital expenditures of $42.1M left free cash flow of $134.5M.
Questions
What was Kilroy Realty's revenue in the third quarter 2025?
Kilroy Realty (KRC) reported revenue of $280M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -4% from the quarter before.
Was Kilroy Realty profitable in the third quarter 2025?
Operating profit was $162M (58.0% of revenue) and net earnings $156M.
Source: Kilroy Realty 10-Q on SEC EDGAR.