For the quarter ended May 2024, KB Home (KBH) reported revenue of $1.71 billion, down 3.1% over the same period last year. EPS came in at $2.15, compared to $1.94 in the year-ago quarter.The reported revenue represents a surprise of +4.33% over the Zacks Consensus Estimate of $1.64 billion. With the consensus EPS estimate being $1.78, the EPS surprise was +20.79%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

KB Home (KBH) came out with quarterly earnings of $2.15 per share, beating the Zacks Consensus Estimate of $1.78 per share. This compares to earnings of $1.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.79%. A quarter ago, it was expected that this homebuilder would post earnings of $1.56 per share when it actually produced earnings of $1.76, delivering a surprise of 12.82%.Over the last four quarters, the company has s ...

Revenue Performance - Revenues for Q2 2024 totaled $1.71 billion, a decrease from $1.77 billion in Q2 2023[4] - Total revenues for the three months ended May 31, 2024, were $1,709,813, a decrease of 3.1% compared to $1,765,316 in the same period of 2023[16] - Homebuilding revenues for the three months ended May 31, 2024, were $1,701,512, down 3.2% from $1,757,846 in 2023[21] Earnings and Profitability - Diluted earnings per share increased by 11% to $2.15, reflecting a net income rise of 2% to $168.4 million[8] - Net income for the three months ended May 31, 2024, was $168,419, an increase of 2.4% from $164,442 in 2023[16] - Basic earnings per share for the three months ended May 31, 2024, were $2.21, compared to $2.00 in 2023, reflecting a 10.5% increase[16] - Homebuilding operating income margin was 11.1%, slightly down from 11.5% year-over-year[4] - Adjusted housing gross profit margin for the three months ended May 31, 2024, was 21.2%, slightly down from 21.4% in 2023[25] Orders and Deliveries - Net orders rose by 2% to 3,997, with net order value increasing by 7% to $2.03 billion[8] - Total net orders for the three months ended May 31, 2024, were 3,997, an increase of 1.5% compared to 3,936 in 2023[23] - Homes delivered in the three months ended May 31, 2024, totaled 3,523, a decrease of 3.9% from 3,666 in 2023[23] Financial Services - Financial services pretax income increased by 16% to $13.3 million, driven by higher loan originations[4] Shareholder Returns - The company repurchased 764,742 shares for a total cost of $50 million in Q2 2024, with a total of $100 million spent in the first half of 2024[12] - The company plans to increase its quarterly cash dividend to $0.25 per share from $0.20 per share[12] Guidance and Outlook - Guidance for full-year 2024 includes revenues between $6.70 billion and $6.90 billion, with an average selling price range of $485,000 to $495,000[12] Asset and Liquidity Position - Total liquidity as of May 31, 2024, was $1.73 billion, including $643.5 million in cash[8] - Total assets as of May 31, 2024, were $6,805,680, an increase from $6,648,362 as of November 30, 2023[19] Backlog and Inventory - Backlog homes as of May 31, 2024, totaled 6,270 with a value of $3,122,135, compared to 7,286 homes valued at $3,456,693 in 2023, indicating a decrease in both homes and value[23] Non-GAAP Financial Measures - Adjusted housing gross profit margin is a non-GAAP financial measure calculated by dividing housing revenues less housing construction and land costs by housing revenues[26] - The Company believes adjusted housing gross profit margin is relevant for evaluating performance as it isolates the impact of housing inventory impairment and land option contract abandonment charges[26] - This financial measure assists management in making strategic decisions regarding community location, product mix, product pricing, and construction pace[26]

Group 1 - Patterson Companies, Inc. is expected to report quarterly earnings of $0.83 per share on revenue of $1.71 billion, with shares gaining 3.9% to $23.75 in after-hours trading [1] - JELD-WEN Holding, Inc. appointed Samantha L. Stoddard as Chief Financial Officer, succeeding Julie C. Albrecht, leading to a 4.5% drop in shares to $3.15 in after-hours trading [1] - KB Home is anticipated to post quarterly earnings of $1.80 per share on revenue of $1.65 billion, with shares falling 0.1% to $69.42 in after-hours trading [1] Group 2 - SIGA Technologies, Inc. announced an agreement to expand TPOXX's access to ASEAN member seats, resulting in a 2.1% increase in shares to $6.73 in after-hours trading [2] - America's Car-Mart, Inc. is expected to report quarterly earnings of $0.89 per share on revenue of $361.47 million, with shares rising 4.9% to $64.80 in after-hours trading [2]

Core Viewpoint - KB Home is expected to report its second-quarter fiscal 2024 results on June 18, with earnings and revenues anticipated to decline compared to the previous year, influenced by challenging market conditions and a decrease in housing deliveries [1][2][3]. Revenue Performance - In the last reported quarter, KB Home's earnings and revenues exceeded the Zacks Consensus Estimate by 12.8% and 1.2%, respectively, with year-over-year increases of 6% in revenues and 21% in earnings [1]. - For the upcoming quarter, the consensus estimate for earnings has decreased to $1.78 per share, reflecting an 8.3% decline from the previous year's earnings of $1.94 per share. Revenue is projected at $1.64 billion, indicating a 7.2% decrease from the prior-year quarter [2]. - Housing revenues are expected to be in the range of $1.6 billion to $1.7 billion, down from $1.75 billion a year ago, with an anticipated average selling price (ASP) of $483,000, up from $479,500 [4]. Factors Affecting Performance - The decline in revenues is attributed to a decrease in housing deliveries, expected to fall by 7.9% year-over-year, influenced by consumer confidence, economic conditions, and interest rates [3]. - Despite these challenges, KB Home's strategies, such as reducing build time and increasing community count, may help mitigate some negative impacts [3]. Margins and Expenses - The housing gross margin for the second quarter of 2024 is projected to be between 20.5% and 21%, affected by concessions provided to homebuyers in the previous year due to market conditions [4]. - Selling, general, and administrative expenses as a percentage of housing revenues are expected to rise to 10.5%, up from 9.6% a year ago, with an effective tax rate of approximately 24% [5]. Orders and Backlogs - New orders are anticipated to increase to 4,164 units, up from 3,936 units in the previous year, driven by limited supply of pre-owned homes [5]. - The backlog is expected to be 6,583 units, a decrease from 7,286 units reported in the prior-year quarter [5]. Earnings Prediction - The model indicates a potential earnings beat for KB Home, supported by a positive Earnings ESP of +0.38% and a Zacks Rank of 2 [6][7].

Loading...Loading...KB Home KBH is set to release second-quarter financial results, after the closing bell on Tuesday.Analysts expect the Los Angeles, California-based company to report quarterly earnings at $1.80 per share. That’s down from $1.94 per share in the year-ago period. KB Home is expected to post revenue of $1.65 billion, according to data from Benzinga Pro.On April 18, KB Home’s board of directors authorized the repurchase of up to $1 billion of the company's outstanding common stock. The board ...

Core Viewpoint - KB Home is a strong candidate for investors due to its consistent performance in beating earnings estimates and positive indicators for future earnings growth [1][3]. Group 1: Earnings Performance - KB Home has a history of exceeding earnings estimates, with an average surprise of 11.14% over the past two quarters [1]. - In the most recent quarter, KB Home reported earnings of $1.76 per share, surpassing the expected $1.56 per share by 12.82% [1]. - For the previous quarter, the company reported $1.85 per share against an expectation of $1.69 per share, resulting in a surprise of 9.47% [1]. Group 2: Earnings ESP and Zacks Rank - KB Home currently has an Earnings ESP of +0.38%, indicating a positive outlook from analysts regarding its near-term earnings potential [3]. - The stock holds a Zacks Rank of 2 (Buy), suggesting a strong likelihood of another earnings beat in the upcoming report [3]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [2]. Group 3: Future Outlook - The next earnings report for KB Home is anticipated to be released on June 18, 2024 [3]. - It is crucial for investors to check the Earnings ESP before quarterly releases to enhance the probability of successful investments [4].

Analysts on Wall Street project that KB Home (KBH) will announce quarterly earnings of $1.78 per share in its forthcoming report, representing a decline of 8.3% year over year. Revenues are projected to reach $1.64 billion, declining 7.2% from the same quarter last year.Over the last 30 days, there has been an upward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over th ...

KB Home (KBH) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changing earn ...

KB Home (KBH) closed the most recent trading day at $69.32, moving +1.72% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 0.35%.Shares of the homebuilder have depreciated by 2.84% over the course of the past month, outperforming the Construction sector's loss of 4% and lagging the S&P 500's gain of 3.25%.The investment community will be paying close attention ...