KB Home (KBH) Q1 2024 Profit Surges on Strong Revenues
KB Home (KBH) Q1 2024 Financial Results:
Homebuilder KB Home (NYSE: KBH) reported a double-digit increase in net income for the first quarter of 2024, reaching $138.7 million or $1.76 per share, up from $125.0 million or $1.45 per share in 2023.
Q1 revenues surged 6% year-over-year to $1.47 billion, fueled by the core Homebuilding segment's strong performance.
- Net order value rose by 58% to $1.58 billion during the quarter.
CEO Jeffrey Mezger's Perspective:
Jeffrey Mezger, CEO of KB Home, highlighted the strong start to fiscal 2024 and attributed the growth in net orders to improved market conditions post-2023.
Fiscal 2024 commenced on a positive note, with results meeting or surpassing the company's guidance ranges.
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