Stock Groups

KB Home Earnings Top Estimates, Revenue Falls Short in Q4 -Breaking

by Mike Robinson

[ad_1]

© Reuters.

By Yasin Ebrahim

Investing.com – KB Home reported Wednesday mixed fourth-quarter results. While earnings exceeded expectations, revenue came in just shy of the expected level, despite strong demand for homes continuing to drive up their prices.

After the close of trading at 0.6%, KB Home (NYSE.KBH), gained over 3% during after-hours.

The fourth quarter EPS saw an increase of 1.2% to $1.91 from $1.12 a previous year, surpassing estimates of $1.77. The revenue increased 41.2% to $1.68 Billion, which was below the estimates of $1.71 Billion.

On average, homes sold increased 28% to $3679, or 9%, due to a $451,000.100 higher selling price.

Looking ahead to 2022, housing revenues were guided in the range of $7.20 billion to $7.60 billion on an average selling price in the range of $480,000 to $490,000. 

According to the company, “During the previous year we substantially increased our production capacities as we scale up our business to meet healthy demand that drives the housing market” and also aligned our starts to net order.

 

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]