KB Home reports Q1 EPS $1.76, consensus $1.57

Reports Q1 revenue $1.47B, consensus $1.46B. “Fiscal 2024 is off to a strong start, as we generated solid results in our first quarter that were either at or above the high end of our guidance ranges. Market conditions have improved since the end of our 2023 fiscal year, contributing to the significant year-over-year increase in our net orders for the quarter,” said Jeffrey Mezger, CEO. “This positive momentum in demand has continued in our 2024 second quarter to date, and we believe we are well-positioned to capitalize on it given our commitment to offering all homebuyers the ability to personalize their home, our well-designed products and attractive price points, as well as our expanding community count. With a healthy balance sheet and strong cash flow, we continue to prioritize investing in land acquisition and development, as well as returning capital to our stockholders. In the 2024 first quarter, we increased our investments in land and land development and continued to repurchase our common stock. While positioning the Company for growth, we also intend to make additional share repurchases in 2024, as we remain focused on creating long-term stockholder value.”