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KB Home (KBH) Reports Q2 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended May 2024, KB Home (KBH) reported revenue of $1.71 billion, down 3.1% over the same period last year. EPS came in at $2.15, compared to $1.94 in the year-ago quarter.

The reported revenue represents a surprise of +4.33% over the Zacks Consensus Estimate of $1.64 billion. With the consensus EPS estimate being $1.78, the EPS surprise was +20.79%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how KB Home performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Backlog - Units: 6,270 compared to the 6,331 average estimate based on four analysts.

  • Average selling price: $483 million compared to the $482.02 million average estimate based on four analysts.

  • Unit deliveries - Total Homes: 3,523 versus the four-analyst average estimate of 3,364.

  • Net orders - Units: 3,997 versus the four-analyst average estimate of 4,006.

  • Backlog - Value: $3.12 billion versus $3.16 billion estimated by three analysts on average.

  • Average community count -Total: 243 versus the two-analyst average estimate of 247.

  • Ending community count: 247 compared to the 250 average estimate based on two analysts.

  • Total Revenues- Homebuilding- Housing: $1.70 billion versus the five-analyst average estimate of $1.63 billion. The reported number represents a year-over-year change of -3.2%.

  • Total Revenues- Financial services: $8.30 million versus $7.26 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.1% change.

  • Total Revenues- Homebuilding: $1.70 billion compared to the $1.63 billion average estimate based on five analysts. The reported number represents a change of -3.2% year over year.

  • Operating Income- Homebuilding: $188.18 million compared to the $167.37 million average estimate based on four analysts.

  • Financial services pretax income: $13.26 million compared to the $11.12 million average estimate based on four analysts.

View all Key Company Metrics for KB Home here>>>

Shares of KB Home have returned -5.1% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Zacks Investment Research