KB Home Reports Earnings Results for the Fourth Quarter and Full Year Ended November 30, 2023
January 10, 2024 at 04:10 pm
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KB Home reported earnings results for the fourth quarter and full year ended November 30, 2023. For the fourth quarter, the company reported sales was USD 1,665 million compared to USD 1,932.49 million a year ago. Revenue was USD 1,673.99 million compared to USD 1,940.03 million a year ago. Net income was USD 150.3 million compared to USD 216.41 million a year ago. Basic earnings per share from continuing operations was USD 1.91 compared to USD 2.54 a year ago. Diluted earnings per share from continuing operations was USD 1.85 compared to USD 2.47 a year ago.
For the full year, sales was USD 6,381.11 million compared to USD 6,880.36 million a year ago. Revenue was USD 6,410.63 million compared to USD 6,903.78 million a year ago. Net income was USD 590.18 million compared to USD 816.67 million a year ago. Basic earnings per share from continuing operations was USD 7.25 compared to USD 9.35 a year ago. Diluted earnings per share from continuing operations was USD 7.03 compared to USD 9.09 a year ago.
KB Home is a homebuilding company. The Company's segments include homebuilding and financial services. The homebuilding segment is engaged in the acquisition and development of land primarily for residential purposes. The Company builds a variety of new homes, including attached and detached single-family residential homes, townhomes and condominiums, designed for first-time and first move-up, as well as second move-up and active adult, homebuyers. It offers homes in development communities, at urban in-fill locations and as part of mixed-use projects. The financial services segment offers various insurance products to its homebuyers in the markets where the Company builds homes and provides title services in certain of those markets. Its financial services also provide mortgage banking services, including residential consumer mortgage loan originations, to its homebuyers indirectly through KBHS Home Loans, LLC, an unconsolidated joint venture between the Company and a third party.