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Despite challenges related to high interest rates, elevated mortgage rates and affordability issues faced by the Zacks Building Products - Home Builders industry, major industry players surged recently. Homebuilding companies have consistently revealed impressive quarterly results, expressing optimism about the growth of new orders and deliveries in the upcoming quarters.The Federal Reserve's decision to maintain interest rates at a 22-year high of 5.25-5.5% brings optimism to the housing market. This stabi ...

KB Home (KBH) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this homebuilder have returned 0%, compared to the Zacks S&P 500 composite's +3.1% change. During this period, the Zacks Building Products - Home Builders industry, which KB Home falls in, has gained 9%. The key question now is: What could be the stock's future direction?While media releases or ...

LANCASTER, Calif.--(BUSINESS WIRE)--KB Home (NYSE: KBH) today announced the grand opening of Sonora, its latest new-home community in Lancaster, California. The desirable one-story homes at Sonora are designed for the way people live today, with popular interior features like modern kitchens overlooking large great rooms, expansive bedroom suites with walk-in closets, and ample storage space. The community’s floor plans feature up to five bedrooms and two baths. What sets KB Home apart is the company’s f ...

Key TakeawaysProfit and sales declined at KB Home as high borrowing costs cut into demand, forcing the company to reduce selling prices and offer concessions to buyers that cut into margins.CEO Jeffrey Mezger said a recent decline in mortgage rates has boosted orders in the beginning of the company's fiscal 2024 first quarter, which began Dec. 1.Despite falling today, shares of KB Home have jumped the past year by more than 70%.KB Home (KB) on Thursday reported a decline in sales and profits in its fiscal f ...

KB Home (NYSE:KBH) stock is slipping today, despite better-than-expected fourth-quarter results, after the homebuilding name announced a decrease in home selling prices and the number of homes delivered. Plus, Seaport Research downgraded KBH  to "neutral" from "buy." No fewer than seven other analysts lifted their price targets, however, with the highest from UBS to $82. At last glance, KBH was down 3.6% at $60.91. Shares are falling from yesterday's roughly 18-year high of $64, but have added 70.6% in the ...

KB Home (KBH) reported better-than-expected results in fourth-quarter fiscal 2023 (ended Nov 30, 2023). Both the earnings and revenues beat the Zacks Consensus Estimate. With this, the company’s earnings and revenues surpassed the consensus mark in four consecutive quarters.Shares of this leading homebuilder lost 1.1% in the after-market trading session on Jan 10.Looking forward to the first quarter and the entirety of 2024, KBH foresees enhanced conditions in the housing market and ongoing positive trends ...

Key PointsKB Home had a better-than-expected quarter and gave favorable guidance. Shares are down on the news due to valuation, but a buy-the-dip opportunity is forming. Capital returns include an 11% YTD reduction in share count, with dividends and repurchases expected to remain strong in 2024. 5 stocks we like better than KB HomeKB Home NYSE: KBH is no high-yielding or hyper-growth stock, but there is more to capital returns and shareholder value than that. Despite numerous economic headwinds and widespre ...

Financial Data and Key Metrics Changes - The company reported total revenues of $1.7 billion for Q4 2023, with diluted earnings per share of $1.85, exceeding guidance across key financial metrics [6][26] - For the full year 2023, the company delivered over 13,200 homes, generating revenues of $6.4 billion and diluted earnings above $7 per share [6][33] - The operating income margin for Q4 was 11%, while the housing gross profit margin was 20.7%, down from 23.9% in the previous year [29][30] Business Line Data and Key Metrics Changes - The company achieved over 3,400 home closings in Q4, driven by improved build times and a strong backlog [6][10] - The average selling price of homes delivered in Q4 decreased to approximately $487,000, influenced by pricing adjustments and buyer concessions [28][30] Market Data and Key Metrics Changes - The company noted improving market conditions with declining interest rates and increasing consumer confidence, alongside low resale inventory [7][8] - In the first five weeks of Q1 2024, net orders reached 904, significantly higher than 403 in the same period last year [11][12] Company Strategy and Development Direction - The company plans to continue optimizing its built-to-order model while focusing on reducing build times and increasing community count [19][39] - The strategy includes maintaining a strong backlog and managing inventory effectively to support growth through 2025 [22][39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the housing market, citing favorable demographic trends and a strong desire for homeownership among millennials and Gen Z [8][39] - The company anticipates improved housing market conditions and a forecasted revenue range of $6.4 billion to $6.8 billion for 2024 [28][33] Other Important Information - The company returned nearly $180 million to shareholders through share repurchases in 2023, with a total of approximately $750 million deployed since the repurchase initiative began [6][24] - The company ended Q4 with a backlog of over 5,500 homes valued at approximately $2.7 billion, representing about 40% of anticipated deliveries for 2024 [10][34] Q&A Session Summary Question: Impact of lower Q4 orders on full-year guidance - Management acknowledged that the slight downshift in guidance was primarily due to lower Q4 orders but remains optimistic about the potential for 2024 [41][43] Question: Expectations for gross margin consistency - Management indicated expectations for relatively flat gross margins throughout the year, influenced by current market conditions and sales rates [44][46] Question: Absorption rates and historical performance - Management expects absorption rates in 2024 to be higher than in 2023, with a target of around five homes per community per month [48][49] Question: Incentives and pricing strategies - Management confirmed that they have not significantly altered incentives and plan to reduce them as demand increases [50][52] Question: Community pricing actions and competition - Management noted that while they have raised prices in some communities, the competitive landscape is more stable compared to previous years [76][77]

Forward-Looking Statements Items in this presentation, and statements by KB Home management in relation to this presentation or otherwise, may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are based on current (at the time made) expectations and projections about future events and are subject to risks, uncertainties, and assumptions about our operations, economic and market factors, and the homebuilding industry, among ...