Kite Realty Group Trust (NYSE:KRG) Q2 2022 Earnings Conference Call August 3, 2022 1:00 PM ET

Company Participants

Bryan McCarthy - SVP, Marketing and Communications

John Kite - Chairman and CEO

Tom McGowan - President and COO

Heath Fear - EVP and CFO

Dave Buell - SVP and CAO

Tyler Henshaw - SVP, Capital Markets and IR

Conference Call Participants

Floris Van Dijkum - Compass Point

Craig Mailman - Citi

Todd Thomas - KeyBanc Capital Markets

Alexander Goldfarb - Piper Sandler

Chris Lucas - Capital One

Richard Milligan - Raymond James

Anthony Powell - Barclays

Craig Schmidt - Bank of America

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Q2 2022 Kite Realty Group Trust Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to your host, Bryan McCarthy, you may begin.

Bryan McCarthy

Thank you, and good afternoon, everyone. Welcome to Kite Realty Group's second quarter earnings call. Some of today's comments contain forward-looking statements that are based on assumptions of future events and are subject to inherent risks and uncertainties. Actual results may differ materially from these statements. For more information about the factors that can adversely affect the company's results, please see our SEC filings, including our most recent Form 10-K.

Today's remarks also include certain non-GAAP financial measures. Please refer to yesterday's earnings press release available on our website for a reconciliation of these non-GAAP performance measures to our GAAP financial results.

On the call with me today from Kite Realty Group are Chairman and Chief Executive Officer, John Kite; President and Chief Operating Officer, Tom McGowan; Executive Vice President and Chief Financial Officer, Heath Fear; Senior Vice President and Chief Accounting Officer, Dave Buell; and Senior Vice President, Capital Markets and Investor Relations, Tyler Henshaw.

I will now turn the call over to John.

John Kite

All right. Thanks very much, Bryan, and good morning to everyone.

I'm very pleased to announce that KRG has once again achieved outstanding quarterly results. Despite the volatile macro landscape, we refused to get distracted and are attacking the opportunities in front of us with a continued sense of urgency. In fact, one of our core values at KRG is urgency, and we will leverage this mindset to take full advantage of the strong demand for our high-quality real estate.

As reported yesterday, KRG generated FFO per share of $0.49, beating consensus estimates by $0.06 and representing a 44% increase per share over the comparable period last year. As set forth on Page 5 of our investor presentation, this massive year-over-year accretion is accompanied by meaningful improvements across every metric that historically correlates to earnings multiples.