KB Home KBH shares are trading lower in Wednesday’s after-hours session following the release of the company’s fourth-quarter earnings report. Here’s a look at the metrics which are moving the stock.
What To Know: KB Home reported quarterly earnings of $1.85 per share which surpassed the analyst consensus estimate of $1.69, a 25.1% decrease over earnings of $2.47 per share from the same period last year.
Quarterly sales clocked in at $1.67 billion, above analyst expectations of $1.62 billion, a 14.18% decrease over sales of $1.94 billion the same period last year.
The company stated that it saw a decrease of 10% in homes delivered in the three months ended Nov. 30, falling to 3,407. The average selling price was $487,300, compared to $510,400 in the same period last year.
KB Home anticipates 2024 housing revenues to be between $6.4 billion and $6.8 billion.
“We ended the year with solid fourth quarter results, outperforming on key financial metrics relative to our guidance, including homes delivered that exceeded our expectations, reflecting improved build times. In addition, we generated considerable cash flow and continued to return capital to shareholders, repurchasing a significant amount of our common stock at well-below book value,” said Jeffrey Mezger, Chairman, President and CEO.
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KBH Price Action: Shares of KB Home were down 2.59% at $61.58 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by Paul Brennan from Pixabay
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