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KB Home (KBH) Publishes 2021 Fourth-Quarter and Full-Year Results; Quarterly Earnings Top Market Estimates

Thursday, January 13, 2022 08:29 AM | Carl Pettit
KB Home (KBH) Publishes 2021 Fourth-Quarter and Full-Year Results; Quarterly Earnings Top Market Estimates

On Jan. 12, the U.S. construction firm KB Home (KBH) reported its 2021 fourth-quarter and full-year results. KBH stock increased 8.78% pre-market today.

Fiscal Fourth-Quarter Results

KB Home said it made an income of $174.2 million based on revenue of $1.68 billion during its fourth quarter. Diluted earnings per share of $1.91 beat market forecasts of around $1.77 per share, although revenue fell short of analysts' expectations.

2021 Full-Year Results

For all of 2021, KB Home reported diluted earnings per share of $6.01, based on $5.72 billion in revenues, which is a 37% revenue increase year-over-year. Profit was $564.7 million for the year.

CEO Comments

“During the past year, we significantly expanded our production capabilities as we scale our business to meet the healthy demand that is driving the housing market and align our starts to net orders,” CEO Jeffrey Mezger pointed out. “Although operating conditions in 2021 were extremely challenging, with labor shortages and supply chain disruptions, along with municipal and related delays, our teams remained resilient in working through solutions with our trade partners and suppliers.”

2022 Guidance

For its 2022 fiscal year, KB Home expects housing revenues to fall in the $7.20 billion to $7.60 billion range, with the average selling price for a home landing somewhere in the range of $480,000 to $490,000.

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