Kilroy Realty Corporation (NYSE:KRC) Q4 2022 Earnings Conference Call February 2, 2023 1:00 PM ET
Company Participants
Nick Yulico - Scotiabank
Bill Hutcheson - SVP, IR and Capital Markets
John Kilroy - Chairman and CEO
Tyler Rose - President
Justin Smart - President and current President of Development and Construction Service
Rob Paratte - EVP, Leasing and Business Development
Eliott Trencher - CIO and CFO
Conference Call Participants
Camille Bonnel - Bank of America
Blaine Heck - Wells Fargo
Michael Griffin - Citi
Steve Sakwa - Evercore
Tom Catherwood - BTIG
Dave Rogers - Baird
Omotayo Okusanya - Credit Suisse
Dylan Burzinski - Green Street
Peter Abramowitz - Jefferies
Jamie Feldman - Wells Fargo
Derek Johnston - Deutsche Bank
Operator
Good afternoon. Thank you for attending today’s KRC 4Q, 2022 Earnings Conference Call. My name is Tamia, and I will be the moderator for today’s call. All lines will be muted during the presentation portion of the call with an opportunity to questions-and-answers at the end. [Operator Instructions]
It is now my pleasure to pass the conference over to our host, Bill Hutcheson, Investor Relations and Capital Markets. Please proceed.
Bill Hutcheson
Thank you, Tamia. Good morning, everyone. And thank you for joining us. On the call with me today are John Kilroy, our Chairman and CEO; Tyler Rose, President; Justin Smart, our incoming President and current President of Development and Construction Service; Rob Paratte, our Chief Leasing Officer and Senior Advisor to the Chairman and Eliott Trencher, our CIO and CFO.
At the outset, I need to say that some of the information we will be discussing during this call is forward-looking in nature. Please refer to our supplemental package for a statement regarding the forward-looking information on this call and in the supplemental.
This call is being telecast live on our website and will be available for replay for the next eight days both by phone and over the Internet. Our earnings release and supplemental package have been filed on a Form 8-K with SEC and both are also available on our website.
John will start the call with third quarter highlights, and Eliott will discuss our financial results and provide you with our 2023 earnings guidance. Then we will be happy to take your questions. John?
John Kilroy
Hey thanks, Bill. And hello, everybody. Thanks for joining us. 2022 was the year of transition, as evidenced by substantial increases in interest rates that impacted the economy and the capital markets. But as we enter 2023 there are signs of inflation cooling, the flat fed slowing down the pace of interest rate hikes, and a resilient consumer. Kilroy is focused on things we can control. Our portfolio is top notch. Our balance sheet is strong and we are patiently waiting for opportunities to allocate capital. That theme of transition can also be seen in the office market as more companies are adjusting to post pandemic life, and many are reestablishing in office policies. Disney, Paramount Netflix, First republic, Sales force, Starbucks and Twitter are among some of the most recent to mandate to return to the office several days a week.