KB Home GAAP EPS of $2.86 beats by $0.19, revenue of $1.84B misses by $60M

Sep. 21, 2022 4:12 PM ETKB Home (KBH)By: Pranav Ghumatkar, SA News Editor1 Comment
  • KB Home press release (NYSE:KBH): Q3 GAAP EPS of $2.86 beats by $0.19.
  • Revenue of $1.84B (+25.2% Y/Y) misses by $60M.
  • Operating Income Margin Improved 610 Basis Points to 17.7%; Gross Margin Increased to 26.7%
  • Ending backlog value increased 9% to $5.26 billion. Ending backlog units were up slightly to 10,756.
  • Homes delivered increased 6% to 3,615.
  • Average selling price rose 19% to $508,700.
  • The Company’s debt to capital ratio was 36.8%, compared to 35.8%. The ratio was 39.6% at August 31, 2021.
  • Q4 Guidance: Housing revenues in the range of $1.95 billion to $2.05 billion vs. consensus of $2.34B.
  • Average selling price expected to be approximately $503,000
  • Ending community count in the range of 235 to 250.
  • Housing gross profit margin in the range of 25.0% to 26.0%, assuming no inventory-related charges.
  • Shares -0.61%.

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