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KBH NYSE· KB Home
Earnings report Q4 2023

KB Home Reports Decrease in Revenues for Latest Quarter

Segments of revenue

In the latest quarter, KB Home reported total revenues of $6.41 billion. The majority of these revenues, $6.38 billion, were generated from the homebuilding segment, which includes revenues from the sale of residential homes. The construction and land costs for the homebuilding segment amounted to $5.03 billion, while selling, general, and administrative expenses were $632 million. The financial services segment contributed $29.5 million in revenues.

Strengths

Despite a decrease in revenues compared to the previous year, KB Home demonstrated resilience in its homebuilding operations. The company's ability to generate over $6 billion in revenues during the quarter showcases its strong market position and customer demand for its homes. Additionally, KB Home's financial services segment reported consistent revenues, indicating stability in this area of the business.

Challenges

KB Home faced challenges in managing expenses, as evidenced by the increase in construction and land costs. These costs rose from $4.47 billion in the previous year to $5.03 billion in the latest quarter. The company also experienced a slight decrease in revenues compared to the previous year, which may be attributed to market conditions and competition in the homebuilding industry.

Noteworthy

KB Home's financial services segment saw an increase in equity from unconsolidated joint ventures, with $15.7 million in the latest quarter compared to $20.8 million in the previous year. This indicates successful partnerships and potential growth opportunities in the financial services sector.

Summary

KB Home reported a decrease in revenues for the latest quarter, primarily driven by challenges in managing construction and land costs. However, the company demonstrated strength in its homebuilding operations, generating over $6 billion in revenues. The financial services segment remained stable, and the increase in equity from joint ventures is noteworthy. KB Home's market position and partnerships position it well for future growth opportunities.

Source documents

Form 10-K  filed on Jan 19, 2024
120 pages scanned

Reference data

Company financials Q4 revenue 1.47B
Analyst estimates Q4 EPS beat by 4.69%
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