KB Home Sees FY24 Revenue $6.70B-$6.90B Vs $6.74B Est.
Portfolio Pulse from Benzinga Newsdesk
KB Home has provided its guidance for the 2024 fiscal year, projecting housing revenues between $6.70 billion and $6.90 billion, with an average selling price of $485,000 to $495,000. The company expects homebuilding operating income as a percentage of revenues to be between 11.0% and 11.4%, and a housing gross profit margin of 21.1% to 21.5%. Selling, general, and administrative expenses are projected to be approximately 10.1% of housing revenues, with an effective tax rate of around 23.0%. The ending community count is expected to be between 250 and 255.

June 18, 2024 | 8:11 pm
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KB Home has provided its FY24 guidance, projecting revenues between $6.70 billion and $6.90 billion, slightly below the $6.74 billion estimate. The company also provided detailed projections on operating income, gross profit margin, and other financial metrics.
The revenue guidance provided by KB Home is slightly below the market estimate of $6.74 billion, which could lead to a neutral short-term impact on the stock price. However, the detailed financial metrics and projections offer a comprehensive view of the company's expected performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100