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Aug 31, 2024
KB Home Q3 2024 Earnings Report
Achieved strong growth in revenues and diluted earnings per share.
Key Takeaways
KB Home reported strong Q3 2024 results with a 10% increase in revenues to $1.75 billion and a 13% increase in diluted earnings per share to $2.04. Net orders were flat compared to the previous year, with improved demand in August as interest rates moderated. The company invested nearly $850 million in land acquisition and development and repurchased $150 million of common stock.
Revenues increased 10% to $1.75 billion.
Diluted earnings per share rose 13% to $2.04.
Net orders were flat compared to the prior year.
Invested nearly $850 million in land acquisition and development.
KB Home
KB Home
KB Home Revenue by Geographic Location
Revenue by Geographic Location
West Coast Revenue
CapyFin.comSouthwest Revenue
CapyFin.comCentral Revenue
CapyFin.comSoutheast Revenue
CapyFin.com Forward Guidance
KB Home provided guidance for the full year 2024.
Positive Outlook
- Housing revenues are expected to be in the range of $6.85 billion to $6.95 billion.
- Average selling price is anticipated to be approximately $490,000.
- Homebuilding operating income as a percentage of revenues is projected to be in the range of 11.1% to 11.2%, assuming no inventory-related charges.
- Housing gross profit margin is expected to be in the range of 21.1% to 21.2%, assuming no inventory-related charges.
- Ending community count is forecasted to be in the range of 250 to 255.
Revenue & Expenses
Visualization of income flow from segment revenue to net income