Homebuilder KB Home (NYSE: KBH) is all set to publish second-quarter 2024 financial results today after the closing bell. Analysts forecast a year-over-year decrease in revenues and earnings.
Listen to KB Home’s Q2 2024 earnings call live and read the real-time transcript
The market will be looking for earnings of $1.80 per share for the May quarter. In the year-ago quarter, the company had earned $1.94 on a per-share basis. On average, nine analysts estimate that the company generated revenues of $1.65 billion in Q2, compared to $1.77 billion in the corresponding period of fiscal 2023.
In the first quarter, net income increased to $138.7 million or $1.76 per share from $125.0 million or $1.45 per share in the same period of 2023. The bottom line topped expectations for the fourth time in a row.
At $1.47 billion, Q1 sales were up 6% year-over-year but fell short of expectations. This marks the eighth consecutive quarter where revenue has missed analysts’ projections. 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.