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.”
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