KB Home(US:KBH) Zacks Investment Research·2024-03-20 23:01Core Insights - KB Home reported revenue of $1.47 billion for the quarter ended February 2024, reflecting a 6% increase year-over-year and a surprise of +1.18% over the Zacks Consensus Estimate of $1.45 billion [1] - Earnings per share (EPS) for the quarter was $1.76, compared to $1.45 in the same quarter last year, resulting in a surprise of +12.82% over the consensus estimate of $1.56 [1] Performance Metrics - Backlog Units: 5,796, exceeding the average estimate of 5,543 by four analysts [2] - Average Selling Price: $480.10 million, slightly above the average estimate of $477.09 million [2] - Unit Deliveries: 3,037 homes delivered, surpassing the average estimate of 3,001 [2] - Net Orders: 3,323 units, compared to the average estimate of 3,033 [2] - Backlog Value: $2.79 billion, exceeding the average estimate of $2.74 billion [2] - Average Community Count: 240, below the average estimate of 245 [2] - Ending Community Count: 238, compared to the average estimate of 248 [2] - Total Revenues from Homebuilding: $1.46 billion, above the average estimate of $1.44 billion, representing a +6% year-over-year change [2] - Total Revenues from Financial Services: $6.07 million, below the average estimate of $6.61 million, with a +5% year-over-year change [2] - Financial Services Pretax Income: $11.58 million, exceeding the average estimate of $8.87 million [2] Stock Performance - KB Home shares have returned +10.6% over the past month, outperforming the Zacks S&P 500 composite's +3.6% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]