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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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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