Why KB Home Stock Is Sliding After-Hours
Portfolio Pulse from Ryan Gustafson
KB Home (NYSE:KBH) reported Q4 earnings of $1.85 per share, beating estimates of $1.69 but down from $2.47 a year ago. Sales were $1.67 billion, above the $1.62 billion forecast but down 14.18% from last year. The company delivered 10% fewer homes and saw a decrease in the average selling price. Despite outperforming key financial metrics, KBH shares dropped 2.59% after-hours.
January 10, 2024 | 9:32 pm
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KB Home reported higher-than-expected Q4 earnings and sales, but saw a decrease from the previous year in both earnings and sales, as well as a drop in homes delivered and average selling price.
Despite beating analyst estimates for Q4, KB Home experienced a year-over-year decline in earnings and sales, and a decrease in homes delivered and average selling price, which are likely contributing factors to the stock's after-hours decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100