Welcome to our dedicated page for KB Home news (Ticker: KBH), a resource for investors and traders seeking the latest updates and insights on KB Home stock.
KB Home reports developments as a U.S. homebuilder that designs, builds and sells new homes and communities for first-time and move-up buyers. Company news commonly covers community openings in markets such as California, Arizona, Texas and Idaho, with details on home types, floor plans, amenities, school access and transportation links.
Updates also describe KB Home's personalized homebuilding model, including Design Studio selections, energy- and water-efficiency features and ENERGY STAR® certification. Recurring corporate items include dividends, earnings releases, share repurchase references and broader operating updates tied to land development and housing demand.
KB Home (NYSE: KBH) announced an expansion of its stock repurchase program from 2 million to 5 million shares, with purchases made at management's discretion. Additionally, the Board declared a quarterly cash dividend of $0.15 per share, payable on August 19, 2021. CEO Jeffrey Mezger emphasized the company's strong cash flow, balanced capital allocation, and commitment to shareholder returns while maintaining flexibility for opportunistic share buybacks. KB Home is recognized for its energy-efficient homes and has built nearly 650,000 homes over its 60-year history.
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KB Home reported strong Q2 2021 results, with revenues up 58% year-over-year to $1.44 billion, driven by a 40% increase in homes delivered. Gross margins rose to 21.4%, while operating margins exceeded 11%. The backlog value reached $4 billion, positioning the company for significant revenue growth. Net income soared 176% to $143.4 million. Despite supply chain challenges, net orders increased 145%, the highest second-quarter level in 14 years, along with a substantial decline in cancellation rates, reflecting a robust demand for housing.
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KB Home (NYSE: KBH) will release its second-quarter earnings for the period ended May 31, 2021, after market close on June 23, 2021. A live earnings conference call is scheduled for the same day at 2:00 p.m. Pacific Time. Investors can access the call through the Investor Relations section of the KB Home website, where a replay will be available for 30 days. Founded over 60 years ago, KB Home is a leading homebuilder in the U.S., offering personalized homes with a focus on ENERGY STAR certification to ensure lower ownership costs and healthier living environments.
KB Home announced the results of its cash tender offer for its 7.000% Senior Notes due 2021, totaling $450 million. The offer expired on June 8, 2021, with $269.83 million of the notes validly tendered. The company accepted all validly tendered notes and settled the offer on June 9, 2021. Holders received $1,017.25 per $1,000 principal along with accrued interest. The payment is funded through proceeds from a $390 million issuance of new 4.00% Senior Notes due 2031. This release serves an informational purpose and does not constitute a purchase offer.