KB Home Q2 EPS $2.15 (+11% YoY); revenues $1.71B; net orders up 2%

KB HOME

2024-Q2 EPS reported $3.91 revenue$3,177,579,000

Diluted EPS rose 11% to $2.15; net income $168.4M, up 2%.
Revenues $1.71B (down 3%); homes delivered 3,523; avg price $483K.
Net orders 3,997 (+2%); net order value $2.03B (+7%); cancellation rate improved to 13% from 22%.
Board raised quarterly dividend to $0.25/share and authorized $1B share repurchase; bought $50M in Q2.
FY 2024 guidance: housing revenues $6.70-6.90B; housing gross margin 21.1-21.5%.

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