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Thursday, May 19, 2022

Q1 2022 Financial Results: KB Home (KBH) Stock Plunging Deep in Aftermarket.

KB Home (KBH) is a leading and most recognized homebuilder and has built up to 655,000 quality homes. The company offers extraordinary personalization to its homebuyers allowing them to make a budget-friendly alteration on their own. The company makes every project certified from ENERGY STAR which is energy-efficient homes helping the cost of ownership to drop.


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KBH stock price during the regular trading session of March 23, 2022, lost its momentum by 4.66% to be $36.03. Its price plunged deep as of the writing in the aftermarket session by 4.33%.

KBH: Key Financials

KBH issued its Q1 2022 unaudited and consolidated financial outcomes on March 23, 2022, for the three months ended February 28, 2022. Some of the notable points are mentioned below.

Revenue

The company posted revenue of $1.39 billion in Q1 2022 versus the same period of 2021 when revenue was recorded to be $1.14 billion. The company’s revenue grew by 23% over the year.

EPS

Diluted net income during Q1 2022 was $134.3 million or $1.47 per share corresponding to $97 million or $1.02 per share in the corresponding quarter of 2021. The company’s net income and diluted EPS increased by 38% and 44%, respectively over the year.

KBH: Events and Happenings

On March 22, 2022, KBH updated on its nomination for the 2022 Newsweek’s list of Most Trusted Companies of the US. The renowned award was presented by Newsweek and Statista Inc. On March 11, 2022. KBH reported the magnificent launch of The Enclaves at Desert Oasis, which is a single-family home community in Arizona. The community is close to all facilities and is easily accessible.

On March 11, 2022, KBH announced the magnificent launch of Butte Vista at Cobblestone, which is a Californian single-family home community. The community is ideally located on River Oaks Boulevard and is near-by to all the facilities and is easily accessible.

Conclusion

KBH stock dropped by 16% year-to-date. The decline in the current aftermarket session is likely associated with the company’s Q1 2022 financial statement release. As the company didn’t meet the analysts’ estimations, resultantly its stock dipped. For Q2 2022, it is expecting a revenue of $1.49 billion versus $1.54 EPS.

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