- The stock price of KB Home (KBH) fell by over 2% intraday today. This is why.
The stock price of KB Home (KBH) fell by over 2% intraday today.
Why: Q3 results
Results: KB Home reported a Q3 EPS of $2.86, which was $0.20 higher than analyst estimates of $2.66. And the revenue for the quarter was $1.84 billion compared to the consensus estimate of $1.88 billion.
The company provided the following current guidance for its 2022 fourth quarter:
— Housing revenues are in the range of $1.95 billion to $2.05 billion.
— Average selling price is expected to be approximately $503,000.
— Homebuilding operating income as a percentage of revenues of approximately 16.7%, assuming no inventory-related charges.
— Housing gross profit margin in the range of 25.0% to 26.0%, assuming no inventory-related charges.
— Selling, general and administrative expenses as a percentage of housing revenues anticipated to be approximately 8.8%.
— Effective tax rate of approximately 24%.
— Ending community count in the range of 235 to 250.