Earnings: KB Home (KBH) Q1 2024 profit jumps on higher revenues

Watch Icon
AlphaStreet
Earnings: KB Home (KBH) Q1 2024 profit jumps on higher revenues

Homebuilder KB Home (NYSE: KBH) on Thursday announced financial results for the first quarter of 2024, reporting a double-digit increase in net income. Revenues moved up 6%.

The company’s net income increased to $138.7 million or $1.76 per share in the first quarter from $125.0 million or $1.45 per share in the comparable period of 2023.

At $1.47 billion, Q1 revenues were up 6% year-over-year. The top line benefitted from a strong performance by the core Homebuilding segment. Net order value increased 58% to $1.58 billion during the three months.

“Fiscal 2024 is off to a strong start, as we generated solid results in our first quarter that were either at or above the high end of our guidance ranges. Market conditions have improved since the end of our 2023 fiscal year, contributing to the significant year‐over‐year increase in our net orders for the quarter,” said Jeffrey Mezger, chief executive officer of KB Home.

Prior Performance

The post Earnings: KB Home (KBH) Q1 2024 profit jumps on higher revenues first appeared on AlphaStreet.

 

Robbins LLP is Investigating the Acquisition of Catalent, Inc. (CTLT) by Novo Holdings By Investing.com | Investorempires.com

Read More | SAN DIEGO, April 10, 2024 (GLOBE NEWSWIRE) — Shareholder rights law firm Robbins LLP informs investors it is investigating the acquisition of Catalent, Inc. (NYSE: NYSE:) by Novo Holdings, a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk (NYSE:) Foundation. Under the terms […]

New levy lined up for State contractors | Investorempires.com

Read More | Economy New levy lined up for State contractors Friday March 15 2024 The National Treasury building in Nairobi. PHOTO | FILE | NMG The Treasury has introduced a new levy on contractors making supplies to both national and county governments, a shift likely to raise the cost of public procurement. New regulations […]