KB Home (KBH) Q1 2024 Profit Surges on Strong Revenues

Thursday, 21 March 2024, 15:27

KB Home (NYSE: KBH) reported a significant increase in net income and a 6% rise in revenues for the first quarter of 2024. The company's net order value saw a substantial uptick of 58% to $1.58 billion, driven by a robust performance in the Homebuilding segment. CEO Jeffrey Mezger expressed optimism for fiscal 2024 citing improved market conditions.
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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.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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