Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
LOS ANGELES – KB Residence (NYSE:KBH) shares jumped 7.97% in after-hours buying and selling on Monday after the homebuilder reported better-than-expected fourth quarter outcomes and offered an upbeat outlook for 2025.
The corporate posted earnings of $2.52 per share for the quarter ended November 30, surpassing analyst estimates of $2.47. Income got here in at $2 billion, edging previous the consensus forecast of $1.99 billion and marking a 19% improve YoY.
KB Residence delivered 3,978 houses in This fall, up 17% from the prior 12 months interval. The common promoting worth rose 3% to $501,000.
“We had a powerful end to 2024, with vital year-over-year development in our fourth-quarter revenues and diluted earnings per share,” mentioned Jeffrey Mezger, Chairman and CEO. “Our increased revenues mirrored a rise in deliveries, which had been pushed by sooner construct instances.”
Trying forward, KB Residence expects full-year 2025 housing revenues between $7 billion and $7.5 billion, with a mean promoting worth starting from $488,000 to $498,000. The corporate anticipates a homebuilding working earnings margin of roughly 10.7%.
Mezger added, “In 2025, we are going to stay centered on increasing our scale, profitability and returns. We imagine we’re poised for development having invested over $2.8 billion in land acquisition and growth in 2024, and we plan to extend our funding once more in 2025.”
This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.
