KB House KBH shares are buying and selling decrease in Wednesday’s after-hours session following the corporate’s third-quarter monetary outcomes. This is what occurred.
What To Know: KB House reported quarterly earnings of $1.80 per share which beat the analyst consensus estimate of $1.43, a 37.06% lower over earnings of $2.86 per share from the identical interval final 12 months. The corporate reported quarterly gross sales of $1.59 billion which beat the analyst consensus estimate of $1.48 billion, a 13.98% lower over gross sales of $1.84 billion the identical interval final 12 months.
The corporate additionally reported that houses delivered decreased 7% to three,375 and the common promoting worth was $466,300, in comparison with $508,700.
KB House raised the full-year 2023 housing revenues outlook from between $5.80 billion and $6.20 billion to $6.31 billion.
“We’re happy to report sturdy monetary outcomes for our third quarter, which exceeded our steerage ranges, pushed partially by reaching larger deliveries, as we additional compressed construct instances,” mentioned Jeffrey Mezger, Chairman, President and CEO.
“We generated revenues of roughly $1.6 billion and, along with an working margin of 11.3%, produced diluted earnings per share of $1.80. Whereas our year-over-year comparisons replicate the file outcomes we achieved within the prior-year quarter, we anticipate this quarter’s strong efficiency to contribute to a extra worthwhile 2023 fiscal 12 months than we had beforehand anticipated.”
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KBH Value Motion: Shares of KBH have been down 1.72% at $47.24 within the after-hours session on the time of publication, in keeping with Benzinga Professional.
Picture by Paul Brennan from Pixabay
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