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 (NYSE: KBH) is a leading homebuilding company in the United States, renowned for its commitment to sustainability and customer-centric approach. Founded in 1957, KB Home was the first homebuilder to be listed on the New York Stock Exchange. Over the decades, the company has constructed nearly 600,000 homes, catering to families across the nation.
KB Home’s core business involves building single-family homes and developing communities in diverse geographical segments, including the West Coast, Southwest, Central, and Southeast regions of the U.S. The company primarily serves first-time and move-up homebuyers, offering a personalized homebuilding experience. Buyers can choose their lot location, floor plan, décor choices, design features, and other special touches, making each home unique and tailored to individual preferences.
As an industry leader in sustainability, KB Home constructs innovative and highly energy- and water-efficient homes. This commitment not only helps in reducing environmental impact but also provides cost savings to homeowners. The company’s dedication to green building practices has positioned it at the forefront of sustainable construction in the residential sector.
In addition to its homebuilding operations, KB Home engages in financial services through a joint venture providing mortgage banking services. The company's comprehensive approach ensures that homebuyers have a seamless and supportive experience from the start of their home search to obtaining financing and finally moving into their new home.
Recently, KB Home has focused on expanding its land acquisition and development activities to support future building projects. This strategic investment aims to secure a robust pipeline of new homes, meeting the ongoing demand in the housing market.
Stay updated with the latest developments and achievements from KB Home by visiting their official website or connecting on social media platforms like Facebook and Twitter.
KB Home (NYSE: KBH) has announced the grand opening of Savannah at McSweeny Farms, a new community featuring single-story homes in Hemet, California. Conveniently located near major highways and shopping areas, the community will include an 18,000-square-foot recreation center and is surrounded by outdoor recreational opportunities. Home sizes range from 1,400 to 2,100 square feet, with prices starting from the low $400,000s. Each home will be ENERGY STAR certified, focusing on energy efficiency and indoor air quality.
KB Home (NYSE: KBH) announced the election of Brian R. Niccol to its Board of Directors on July 8, 2021. He will also serve on the Management Development and Compensation Committee. Michael M. Wood, a Board member since 2014, transitions to the advisory role of Director Emeritus. This change maintains the Board's size at 12 members, with 11 being independent. Niccol brings vast experience in operational strategy and sustainability, which may benefit KB Home’s growth and environmental initiatives.
KB Home has appointed Robert McGibney as Executive Vice President and Co-Chief Operating Officer, effective July 1, 2021. He will oversee operations in the West Coast and Southwest regions, as well as key strategic functions like architecture and sustainability. The company anticipates $6 billion in revenues for the year, underscoring its growth potential. Matthew Mandino continues as Co-Chief Operating Officer responsible for the Central and Southeast regions. KB Home is recognized for its energy-efficient homes and commitment to customer satisfaction.
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.
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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