KB Home Reports 2022 Fourth Quarter and Full Year Results
https://investor.kbhome.com/company-news/news-releases/press-release-details/2023/KB-Home-Reports-2022-Fourth-Quarter-and-Full-Year-Results/default.aspx

Fourth Quarter Total Revenues Up 16% to $1.94 Billion; Diluted Earnings Per Share Up 29% to $2.47
Book Value Per Share of $43.59 Up 27%; Full-Year Return on Equity Increased 470 Basis Points to 24.6%

Guidance

The Company is providing the following guidance for its 2023 first quarter:

Housing revenues in the range of $1.25 billion to $1.40 billion.
Average selling price in the range of $490,000 to $500,000.
Homebuilding operating income as a percentage of revenues in the range of 9.5% to 10.5%, assuming no inventory-related charges.
Housing gross profit margin in the range of 20.0% to 21.0%, assuming no inventory-related charges.
Selling, general and administrative expenses as a percentage of housing revenues anticipated to be approximately 10.3% to 10.8%.
Effective tax rate of approximately 23%.
Average community count up in the range of 15% to 20%.
Due to significant uncertainty and limited forward visibility regarding 2023 housing market, macroeconomic and geopolitical conditions, which are anticipated to be challenging compared to prior periods, the Company is providing guidance as to the full fiscal year only for the following:

Housing revenues in the range of $5.00 billion to $6.00 billion.

"The euro fell hard against the U.S. dollar Tuesday, while European stocks and bonds surged on the prospect of the European Central Bank ramping up its asset-purchase program in May and June."

wsj.com

(www.wsj.com)

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