KB Home Q3 revenues up 10% to $1.75B; diluted EPS $2.04 (+13%)

KB HOME

2024-Q3 EPS reported $5.94 revenue$4,930,187,000

Revenues $1.75B (+10% YoY); deliveries 3,631 homes (+8%); avg price $480,900 (+3%).
Net income $157.3M (+5%); diluted EPS $2.04 (+13%) on net income growth and share repurchases.
Net orders flat at 3,085; cancellation rate improved to 15% from 21%; ending community count up 10% to 254.
Repurchased $150M of common stock in Q3; total $250M in first 9 months, ~5% of shares outstanding.
FY2024 guidance: housing revenues $6.85-6.95B; homebuilding operating margin 11.1-11.2%; community count 250-255.

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