Following the announcement of Q3 and full-year 2021 financial results, KB Home (KBH) stock gained a further 5.53% in the after-hours.
During the regular session on Wednesday, KBH traded between a high of $43.04 and a low of $42.20. The stock closed the session at $42.38, with a small gain of 0.55% at 3.52 million shares exchanging. After the emergence of the news, the stock gained momentum to reach $44.68 in the after hours.
The Los Angeles-based home builder and seller, KB Home has a market capitalization of $3.69 billion. Currently, the company has 87.48 million shares outstanding in the market.
Q4 and FY2021 Financial Report
On January 12, the company declared its financial results for the fourth quarter and full-year 2021, which ended on November 30.
Fourth Quarter 2021
In the fourth quarter of 2021:
- KBH’s revenues were $1.68 billion, an increase of 40% year over year.
- The number of homes delivered was 3,679, an increase of 28% year over year.
- The average selling price was $451,100, a 9% year-over-year increase.
- Total pretax income was $223.9 million, 78% year-over-year growth.
- Net income grew 64% year over year to $174.2 million.
- Net income per diluted share grew 71% year over year to $1.91.
The full Year 2021
For the full year 2021, KBH reported:
- 37% year-over-year growth in revenues to $5.72 billion.
- The number of homes delivered rose 26% year over year to 13,472.
- The average selling price was $422,700, an increase of 9% year over year.
- Total pre-tax income of $695.3 million with a growth of 91% year over year.
- Net income was $564.7 million, a 91% year-over-year increase.
- Net income per diluted share grew 92% year over year to $6.01.
Fiscal 2022 Guidance
In addition, the company also issued guidance for its fiscal 2022. According to the issued guidance, KBH expects:
- Housing revenues between $7.20 billion and $7.60 billion.
- Average selling price between $480,000 and $490,000.
- Homebuilding operating income between 15.7% and 16.5% of revenues with no inventory-related charges assumption.
- Increase of 20% to 25% in ending community count.
- Return on equity in excess of 26%.
KBH’s Recent Developments
On January 07, the company announced the opening of a new single-family homes community in Seffner, Florida called Williams Pointe. Moreover, the price of homes starts from $350,000 in the new community.
Previously, KBH had announced the inauguration of Autumn Creek in the Riverside County neighborhood of Winchester, California.
