KB Home
- KB Home increased 1% to $61.04 after the home builder said its board of directors announced a new $1 billion stock repurchase plan.
The new plan replaces the previous authorization with the remaining $113.6 million.
The company intends to continue its share repurchases in 2024 in a projected range of between $200 million and $400 million for the full year, including $50 million of share repurchases completed during the company’s 2024 first quarter.
The home builder's board of directors raised quarterly cash dividend by 25% to 25 cent per share payable on May 23 to shareholders on May 9.
The company declared first quarter results on March 20 and said it repurchased $50 million of its stock in the period.
In the first quarter ending in March, revenue increased 6% to $1.47 billion from $1.38 billion, net income rose to $138.6 million from $125.5 million, and diluted earnings per share rose to $1.76 from $1.45 a year ago.
Apr 19, 2024 - Single-family house sales eased 0.3% from the previous month and rose 5.9% from a year ago in February to a seasonally adjusted rate of 662,000.
The median sale price of a new house sold was $400,500, and the average sale price was $485,000, according to the latest government statistics.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the new residential statistics Monday.
The seasonally adjusted estimate of new homes for sale at the end of February was 463,000, a supply of 8.4 months at the current sales rate.
Home price affordability and elevated mortgage rates have kept first-time home buyers away from the market, as mortgage rates have continued to advance over the last year.
Mar 25, 2024 - KB Home declined 3% to $61.28 after the home builder reported its fourth-quarter results.
Revenue in the quarter decreased to $1.67 billion from $1.94 billion, net income dropped to $150.3 million from $216.4 million, and diluted earnings per share fell to $1.85 from $2.47.
Homes delivered in the quarter decreased 10% to 3,407, and the average selling price declined 4.5% to $487,300 from $510,400 a year ago.
However, demand for new homes increased in the final quarter, and the cancellation rate declined.
Net orders for the fourth quarter were up 176% to 1,909, and net order value grew 157% to $932.6 million.
However, the backlog of home orders declined to 5,510 from 7,662, and the backlog value fell to $2.67 billion from $3.69 billion a year ago.
Jan 11, 2024 - KB Home declined 4% to $46.10 despite the home builder reporting quarterly results that met investor expectations.
Revenue in the fiscal third quarter ending in August fell to $1.59 billion from $1.84 billion and the delivered homes declined 7% to 3,375 from a year ago.
Higher mortgage rates negatively impacted home prices and average selling price in the quarter declined to $466,300 compared to $508,700 a year ago.
The home building operating income margin declined to 11.3% from 17.7% and housing gross profit margin fell 520 basis points to 21.5%.
Net income declined to $149.9 million from $255.3 million and diluted earnings per share and diluted earnings per share fell to $1.80 from $2.86 a year ago.
Sep 21, 2023
| Year | Feb | May | Aug | Nov | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 1.45 | 1.94 | 1.80 | 1.85 | - | |
| 2022 | 1.47 | 2.32 | 2.86 | 2.44 | 9.09 | |
| 2021 | 1.02 | 1.5 | 1.6 | 1.89 | 6.01 | |
| 2020 | 0.63 | 0.55 | 0.83 | 1.12 | 3.13 | |
| 2019 | 0.31 | 0.51 | 0.73 | 1.3 | 2.85 | |
| 2018 | -0.82 | 0.57 | 0.87 | 1.09 | 1.71 | |
| 2017 | 0.15 | 0.33 | 0.51 | 0.84 | 1.83 | |
| 2016 | 0.14 | 0.17 | 0.42 | 0.40 | 0.96 | |
| 2015 | 0.07 | 0.10 | 0.23 | 0.43 | 0.83 | |
| 2014 | 0.12 | 0.27 | 0.28 | 8.58 | 9.25 | |
| 2013 | -0.16 | -0.04 | 0.30 | 0.36 | 0.46 | |
| 2012 | -0.59 | -0.31 | 0.04 | 0.10 | -0.76 | |
| 2011 | -1.49 | -0.89 | -0.13 | 0.19 | -2.32 | |
| 2010 | -0.71 | -0.40 | -0.02 | 0.23 | -0.9 | |
| 2009 | -0.75 | -1.03 | -0.87 | 1.32 | -1.33 | |
| 2008 | -3.47 | -3.30 | -1.87 | -3.95 | -12.59 | |
| 2007 | 0.34 | -1.93 | -0.46 | -9.99 | -12.04 | |
| 2006 | 2.01 | 2.45 | 1.90 | -0.54 | 5.82 | |
| 2005 | 1.41 | 2.06 | 2.50 | 3.35 | 9.32 |