KB Home - KBH STOCK NEWS

KB Home has announced the grand opening of Winslow Ridge, a new community in Poulsbo, Washington. The development offers personalized one- and two-story homes with up to six bedrooms and four baths, priced from the low $600,000s. The community features amenities like trails and open space, and is within walking distance to schools.

Winslow Ridge is located on Rhododendron Lane Northwest, near major highways providing access to ferries to Edmonds and downtown Seattle. The neighborhood is close to shopping, dining, and outdoor recreation opportunities at Olympic National Park and Forest.

KB Home emphasizes building strong relationships with customers, offering a unique homebuying experience through their KB Home Design Studio. The company is committed to energy efficiency, with homes designed to be ENERGY STAR® certified, offering greater comfort and utility cost savings.

KB Home announces the grand opening of Maple Hill, its newest community in Caldwell, Idaho. The development offers personalized, spacious homes with mountain views, priced from the mid $300,000s. Homes feature up to five bedrooms and three baths, with modern kitchens, large great rooms, and bedroom suites with walk-in closets.

Community amenities include a park, playground, barbeque area, and walking paths. The location provides easy access to highly rated schools and is conveniently situated near Interstate 84, Highway 20, and Highway 26. KB Home emphasizes customer satisfaction, offering a unique homebuying experience with personalized options and energy-efficient designs. The homes are ENERGY STAR® certified, a standard met by fewer than 10% of new homes nationwide.

KB Home (NYSE: KBH) has announced the election of Cheryl J. Henry to its Board of Directors on October 10, 2024. Henry, the former President, CEO, and Chairwoman of Ruth's Hospitality Group, Inc., will also serve on the Board's Nominating and Corporate Governance Committee. Her initial term will conclude at KB Home's 2025 Annual Meeting of Stockholders, where she will be up for shareholder vote.

Henry brings extensive operational and marketing experience from her various senior roles at Ruth's Chris Steak House, including Chief Operating Officer before becoming CEO. She previously served as Chief of Staff for the Mayor of Orlando and currently sits on the board of directors of Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL).

Jeffrey Mezger, Chairman and CEO of KB Home, expressed enthusiasm about Henry's addition to the board, citing her executive-level experience in the consumer sector and her strong network in Florida, particularly in Orlando, which is an important market for the company.

KB Home (NYSE: KBH) announced that Jeff J. Kaminski, Executive Vice President and Chief Financial Officer, will retire in early 2025 after more than 14 years in the position. Kaminski will continue as CFO through the filing of KB Home's 2024 Annual Report and assist with the transition. The company is following its succession planning process to identify the next CFO.

Chairman and CEO Jeffrey Mezger praised Kaminski's contributions, highlighting his role in improving the company's financial structure and driving the returns-focused growth strategy. Mezger noted that under Kaminski's leadership, KB Home has strengthened its balance sheet, achieved low debt-to-capital ratio, and generated substantial cash, resulting in significant stockholder returns.

Kaminski expressed gratitude for his time at KB Home, describing it as the highlight of his career. He expressed confidence in the company's future as a leading national homebuilder.

KB Home has announced the grand opening of Sunflower, a new townhome community in Anaheim, California. This development offers a rare opportunity to own a new home in a prime location close to Orange County's attractions and beaches, with prices starting from the mid $700,000s. The three-story townhomes feature up to four bedrooms and three-and-a-half baths, designed with modern amenities and ample storage space.

Sunflower is situated in a commuter-friendly location at the corner of Lincoln Avenue and Sunkist Street, providing easy access to major highways and job centers. The community is within walking distance to schools and parks, and close to shopping, dining, and entertainment options. KB Home emphasizes personalization, energy efficiency, and customer satisfaction in their homebuilding process.

KB Home has announced the grand opening of Red Bend, a new community in southwest Las Vegas. The development offers personalized, two-story homes priced from the $480,000s, featuring up to five bedrooms and four baths. Located at West Sunset Road and South Dapple Gray Road, Red Bend provides easy access to major highways, employment centers, and attractions.

The community boasts proximity to family-friendly parks, world-class resorts, and outdoor recreational areas like Red Rock Canyon. KB Home emphasizes its unique homebuying process, allowing customers to personalize their homes through the KB Home Design Studio. The company is recognized as the #1 customer-ranked national homebuilder based on satisfaction surveys.

KB homes at Red Bend are designed to be ENERGY STAR® certified, offering greater comfort and utility cost savings. The sales office and model homes are now open for visits and tours, with flexible options for prospective buyers to explore the community.

KB Home has announced the grand opening of West Magnolia, a new community of two-story homes in Marysville, Washington. Priced from the $670,000s, these homes offer up to five bedrooms and three baths, with modern features like large great rooms and expansive bedroom suites. The community will include amenities such as a park and open space.

West Magnolia is located near Highway 9 and Interstate 5, providing easy access to Seattle-area employment centers, including Boeing's Everett facility. The neighborhood is close to shopping, dining, and outdoor recreation opportunities. KB Home's unique approach allows homebuyers to personalize their new home through the KB Home Design Studio experience.

The homes are designed to be ENERGY STAR® certified, offering greater comfort and utility cost savings. Interested buyers can visit the sales office and model homes for walk-in visits or arrange private tours and live video tours.

KB Home has announced the grand opening of Bellbrooke, a new-home community in Jacksonville, Florida. The community offers personalized, spacious homes priced from the $290,000s, with planned on-site amenities including a children's playground and dog park. The one- and two-story floor plans feature up to five bedrooms and three-and-a-half baths, with no CDD fees.

KB Home's unique approach allows customers to personalize their homes through the KB Home Design Studio. The company is ranked #1 in customer satisfaction among national homebuilders. Bellbrooke is conveniently located near schools, major employers, and Naval Air Station Jacksonville, with easy access to shopping, dining, and outdoor recreation areas.

The homes are designed to be ENERGY STAR® certified, offering greater comfort and utility cost savings. The grand opening celebration is scheduled for Saturday, Sept. 28, from 11 a.m. to 1 p.m., featuring model home tours and complimentary food.

KB Home (NYSE: KBH) reported strong results for its third quarter ended August 31, 2024. Revenues increased 10% to $1.75 billion, with homes delivered up 8% to 3,631. Diluted earnings per share grew 13% to $2.04, driven by higher net income and the impact of stock repurchases. The company experienced variability in demand across the quarter, with softening in late June through July due to elevated mortgage rates and economic concerns. However, demand improved in August as rates moderated.

KB Home continued to balance growth investments with shareholder returns, increasing land acquisition and development investment by over 50% year-over-year to nearly $850 million, while also repurchasing $150 million of common stock. The company's backlog value stood at $2.92 billion, with 5,724 homes. KB Home maintained a strong liquidity position of $1.46 billion and improved its debt to capital ratio to 29.8%.