KB Home Q1 EPS $1.45 flat YoY; revenues $1.38B; new $500M buyback authorized

KB HOME

2023-Q1 EPS reported $1.45 revenue$1,384,314,000

Net income $125.5M (down 7% YoY); diluted EPS $1.45 flat YoY; revenues $1.38B essentially flat.
Homebuilding operating income margin 11.4% (down from 12.2%); housing gross margin 21.5% (down 90 bps).
Net orders 2,142 (down 49% YoY); cancellation rate 36% (vs 11% prior year, improved from 68% sequentially).
Board authorized $500M stock repurchase, replacing prior authorization with $75M remaining.
FY 2023 guidance: housing revenues $5.2B-$5.9B; operating margin 10-11%; avg community count up low double-digit %.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KB HOME reported three months ended February 28, 2023 results: revenue Total Revenues of $1.38 Billion, net income Net Income of $125.5 Million, EPS Diluted Earnings Per Share of $1.45. Guidance initiated.

Period: three months ended February 28, 2023
Revenue: Total Revenues of $1.38 Billion
Net income: Net Income of $125.5 Million
EPS: Diluted Earnings Per Share of $1.45
Guidance: initiated
Result: reported results

Exact text from the filing

KB HOME REPORTS 2023 FIRST QUARTER RESULTS Total Revenues of $1.38 Billion Net Income of $125.5 Million; Diluted Earnings Per Share of $1.45

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Source: SEC EDGAR

accession 0000795266-23-000033

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