🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

KB Home reports a strong Q2 beat, provides guidance

Published 2023-06-21, 05:14 p/m
© Reuters.
KBH
-

KB Home (NYSE:KBH) reported its Q2 earnings, with EPS of $1.94 coming in better than the consensus estimate of $1.31. Revenue grew 3% year-over-year to $1.77 billion, beating the consensus estimate of $1.4B.

Homes delivered increased 6% year-over-year to 3,666, with an average selling price of $479,500, representing a 3% decline.

According to CEO Jeffrey Mezger, the improvement in demand seen in February was sustained throughout Q2, as the company achieved monthly sequential increases in its net orders, resulting in an overall absorption pace of 5.2 net orders per month, per community.

“We believe our orders, starts and production are well-balanced and, with the sequential increase in our backlog at quarter-end, we are well-positioned to achieve our revenue target for 2023,” added Mezger.

The company provided its full 2023-year guidance, expecting housing revenues in the range of $5.80-$6.20B and an average selling price of approximately $485,000.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.