KB Home (KBH) Tops Q1 EPS by 19c

KB Home (NYSE: KBH) reported Q1 EPS of $1.76, $0.19 better than the analyst estimate of $1.57. Revenue for the quarter came in at $1.47 billion versus the consensus estimate of $1.46 billion.

Guidance:

• The Company is providing the following guidance for its 2024 full year:
• Housing revenues in the range of $6.50 billion to $6.90 billion.
• Average selling price in the range of $480,000 to $490,000.
• Homebuilding operating income as a percentage of revenues in the range of 10.9% to 11.3%, assuming no inventory-related charges.
• Housing gross profit margin in the range of 21.0% to 21.4%, assuming no inventory-related charges.
• Selling, general and administrative expenses as a percentage of housing revenues of approximately 10.2%.
• Effective tax rate of approximately 23.0%.
• Ending community count of about 260, up 7% year over year.

For earnings history and earnings-related data on KB Home (KBH) click here.

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