KB Home stock rises more than 4% after builder's Q4 sales rise 40%


Shares of KB Home KB, +2.79% rose more than 3% in the extended session Wednesday after the home builder reported fourth-quarter profit above expectations and sales that matched forecasts, saying it had to meet “healthy demand” for housing amid “extremely challenging” operating conditions. KB Home said it earned $174 million, or $1.91 a share, in the quarter, compared with $106 million, or $1.12 a share, in the year-ago period. Sales rose 40% to $1.68 billion. Analysts polled by FactSet expected EPS of $1.77 on sales of $1.7 billion. KB Homes’ employees remained “resilient” as they worked through labor shortages, supply chain disruptions, and municipal and related delays, the company said. KB Home guided for 2022 housing revenues between $7.2 billion and $7.6 billion, an an average selling price between $480,000 and $490,000 for the year. Shares of KB Home ended the regular trading day up 0.6%.

Source: Marketwatch

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