The earnings call reflects a generally positive outlook for Killam Apartment REIT, with strong financial performance, strategic acquisitions, and robust same-property NOI growth. However, challenges such as increased turnover rates, pressure in certain rental markets, and reliance on rental incentives indicate areas of concern.

Company Guidance

During the second quarter of 2025, Killam Apartment REIT reported strong financial and operational performance, with several key metrics highlighted. The funds from operations (FFO) per unit increased by 6.7% to $0.32 from $0.30 in the same quarter of 2024. Same-property net operating income (NOI) grew by 6.7%, with the apartment portfolio seeing a 6.6% increase, the manufactured home community portfolio up by 10.1%, and commercial properties rising by 3.4%. The occupancy rate for same-property apartments was slightly lower at 97.5% compared to 97.8% in Q2 2024. Rental incentives rose, particularly in Ontario and Alberta, with the introduction of new developments, such as those at Civic 66 and Nolan Hill Phase 2. Killam's financial strategy included a focus on strategic asset sales, resulting in the disposition of several properties in Newfoundland and Prince Edward Island, alongside acquisitions in New Brunswick and Ottawa. The REIT also made advances in sustainability efforts, such as installing solar panels to reduce energy costs. Looking ahead, Killam aims to maintain its growth trajectory, with expectations of continued revenue and NOI growth, supported by strategic capital allocation and property development initiatives.

Strong FFO Growth

Killam delivered FFO of $0.32 per unit, a 6.7% increase from $0.30 per unit in Q2 2024.

Same-Property NOI Growth

Achieved 6.7% same-property NOI growth across the portfolio, with 10.1% growth in the manufactured home community portfolio.

High Occupancy Levels

Same-property apartment occupancy at the end of Q2 was 97.5%.

Successful Dispositions

Completed the sale of several properties, including 318 units in Newfoundland for $18.5 million.

Energy Efficiency Initiatives

Continued investment in solar panels and energy management initiatives to offset inflationary pressures.

Commercial Portfolio Growth

Commercial portfolio revenue grew by 4.8% with a 50 basis point increase in commercial occupancy to 94.6%.

Notable Developments

Completed the purchase of a 50% interest in Ottawa apartment buildings; The Carrick building is 60% leased.

Killam Apartment REIT Un (TSE:KMP.UN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:KMP.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	- / -	0.51	―	―	―
Aug 06, 2025	2025 (Q2)	- / 0.27	0.932	-71.35% (-0.67)	―	―
May 07, 2025	2025 (Q1)	- / 0.82	1.04	-20.77% (-0.22)	―	―
Feb 12, 2025	2024 (Q4)	- / 3.04	0	―	―	―
Nov 06, 2024	2024 (Q3)	- / 0.51	0.562	-9.25% (-0.05)	―	―
Aug 07, 2024	2024 (Q2)	- / 0.93	0.946	-1.48% (-0.01)	―	―
May 07, 2024	2024 (Q1)	- / 1.04	0.69	50.72% (+0.35)	―	―
Feb 14, 2024	2023 (Q4)	- / 0.00	-0.084	―	―	―
Nov 07, 2023	2023 (Q3)	- / 0.56	0.03	1773.33% (+0.53)	―	―
Aug 09, 2023	2023 (Q2)	- / 0.95	0.574	64.81% (+0.37)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:KMP.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	C$18.06	C$17.86	-1.11%
May 07, 2025	C$17.77	C$17.58	-1.07%
Feb 12, 2025	C$16.17	C$16.28	+0.68%
Nov 06, 2024	C$17.50	C$17.81	+1.77%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Killam Apartment REIT Un (TSE:KMP.UN) report earnings?

Killam Apartment REIT Un (TSE:KMP.UN) is schdueled to report earning on Nov 05, 2025, After Close (Confirmed).

What is Killam Apartment REIT Un (TSE:KMP.UN) earnings time?

Killam Apartment REIT Un (TSE:KMP.UN) earnings time is at Nov 05, 2025, After Close (Confirmed).

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