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Nov 30, 2023
KB Home Q4 2023 Earnings Report
KB Home reported solid Q4 2023 results, outperforming guidance on key financial metrics with revenues of $1.67 billion and diluted earnings per share of $1.85.
Key Takeaways
KB Home's Q4 2023 results showed revenues of $1.67 billion and diluted earnings per share of $1.85. The company repurchased 3.6 million shares during the quarter and experienced a significant increase in net orders in the first five weeks of Q1 2024.
Fourth quarter revenues reached $1.67 billion.
Diluted earnings per share were $1.85.
Net orders increased by 176% year-over-year.
The company repurchased 3.6 million shares of common stock.
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, including housing revenues between $6.40 billion and $6.80 billion, and an average selling price between $480,000 and $490,000.
Positive Outlook
- Housing revenues in the range of $6.40 billion to $6.80 billion.
- Average selling price in the range of $480,000 to $490,000.
- Homebuilding operating income as a percentage of revenues of approximately 11.0%, assuming no inventory-related charges.
- Housing gross profit margin of approximately 21.0%, assuming no inventory-related charges.
- Ending community count of approximately 270, up 12%.
Challenges Ahead
- Selling, general and administrative expenses as a percentage of housing revenues of about 10.0%.
- Effective tax rate of approximately 24.0%.
- Potential for inventory-related charges impacting operating income and gross profit margin.
- Dependence on stable material and trade costs.
- Sensitivity to changes in interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income