KB Home Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended November 30, 2018; Provides Earnings Guidance for the First Quarter of 2019
January 10, 2019 at 02:40 am IST
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KB Home announced unaudited consolidated earnings results for the fourth quarter and year ended November 30, 2018. For the quarter, the company reported total revenues of $1,348,609,000 against $1,403,138,000 for the same period a year ago. Net income was $96,836,000 or $0.96 per diluted share and $1.09 per basic share compared to $84,346,000 or $0.84 per diluted share and $0.97 per basic share for the same period a year ago.
For the year, the company reported total revenues of $4,547,002,000 against $4,368,529,000 for the same period a year ago. Net income was $170,365,000 or $1.71 per diluted share and $1.93 per basic share compared to $180,595,000 or $1.85 per diluted share and $2.09 per basic share for the same period a year ago.
For the first quarter of 2019, the company expects generate housing revenues in the range of $800 million to $860 million.
KB Home is a homebuilding company. The Company's segments include homebuilding and financial services. The homebuilding segment is engaged in the acquisition and development of land primarily for residential purposes. The Company builds a variety of new homes, including attached and detached single-family residential homes, townhomes and condominiums, designed for first-time and first move-up, as well as second move-up and active adult, homebuyers. It offers homes in development communities, at urban in-fill locations and as part of mixed-use projects. The financial services segment offers various insurance products to its homebuyers in the markets where the Company builds homes and provides title services in certain of those markets. Its financial services also provide mortgage banking services, including residential consumer mortgage loan originations, to its homebuyers indirectly through KBHS Home Loans, LLC, an unconsolidated joint venture between the Company and a third party.
KB Home Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended November 30, 2018; Provides Earnings Guidance for the First Quarter of 2019