HomeEquities ScoreHere is why KB Home (KBH) stock had a good Wednesday?

Here is why KB Home (KBH) stock had a good Wednesday?

KB Home (KBH) shares surged 5.43% in after-hours on Wednesday, January 12, 2021, and closed the daily trading at $44.68. Even in the regular trading session, KBH’s stock gained 0.55%. KBH shares have risen 21.05%, and they have moved down 1.44% in the past week. Over the past three months, the stock has gained 8.31%, while over the past six months, it has jumped 7.86%.

Let’s have a brief discussion about its recent news and developments.


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KBH latest news

On January 12, 2022, KB Home (KBH) announced financial results for its fourth quarter and year ended November 30, 2021.

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Q4 2021 financial highlights

  • KBH reported $1.68 billion in revenue for the fourth quarter of 2021 compared to $1.19 billion in the fourth quarter of 2020.
  • In Q4 2021, cost and expenses were $1.45 billion compared to $1.07 billion in Q4 2020.
  • It earned a net income of $174.2 million and diluted earnings per share of $1.91 in Q4 2021 compared to a net income of $106.09 billion and diluted earnings per share of $1.12 in Q4 2020.

FY 2021 financial highlights

  • KB Home reported $5.73 billion in revenue for the fiscal year 2021 compared to $4.18 billion in the fiscal year 2020.
  • In FY 2021, cost and expenses were $5.04 billion compared to $3.85 billion in FY 2020.
  • It earned a net income of $564.7 million and diluted earnings per share of $6.01 in FY 2021 compared to a net income of $296.24 billion and diluted earnings per share of $3.13 in FY 2020.
  • The company ended FY 2021 with total liquidity of $1.08 billion, including cash and cash equivalents and $791.4 million of available capacity under its unsecured revolving credit facility.

FY 2022 financial outlook

For FY 2022, KB Home is expecting,

  • Housing revenues in the range of $7.20 billion to $7.60 billion.
  • Housing gross profit margin in the range of 25.4% to 26.2%, assuming no inventory-related charges.
  • Selling, general and administrative expenses as a percentage of housing revenues in the range of 9.4% to 9.9%.

KBH new communities

On January 07, 2022, KB Home announced the grand opening of Autumn Creek, a new community of single-story homes located in the popular Riverside County neighborhood of Winchester, California.

Autumn Creek is just minutes away from shopping, dining, and entertainment at Menifee Countryside Marketplace and Hemet Valley Mall. Loma Linda University Medical Center and Mount San Jacinto College are also nearby of the new community.

Also, KBH inaugurated Williams Pointe, a new, single-family home community in Seffner. Williams Pointe is conveniently located in Westfield Brandon for shopping, dining, and entertainment. Williams Pointe is also just a short drive to Seminole Hard Rock® Hotel & Casino and nearby to Eureka Springs Conservation Park, which features gardens with tropical plants, flowers, and boardwalks.

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Conclusion

The recent financial results beat the analyst’s estimates and hence its stock price went up on Wednesday. we expect it to continue its momentum on Thursday as well.

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