The following is a summary of the KB Home (KBH) Q3 2024 Earnings Call Transcript:

Financial Performance:

• KB Home reported double-digit year-over-year growth in revenues and diluted earnings per share in Q3 2024.

• Total revenues were over $1.75 billion, with diluted earnings per share of $2.04.

• The company projects $6.9 billion in revenues for 2024, at a gross margin exceeding 21%.

• Housing revenues grew by 11% compared to the previous year, driven by an increase in the number of homes delivered and an overall average selling price increase.

Business Progress:

• KB Home has advanced its Build-to-Order model, focusing on customer satisfaction and community count growth.

• The company has accelerated land investment, with a significant increase of over 50% year-over-year in land acquisition and development costs.

• -Community counts and geographic expansion are also notable, especially in new markets like Boise, Charlotte, and Seattle.

Opportunities:

• The company sees further investment in land and development as a strong pathway for growth, with plans to increase the lot position by 21% year-over-year.

• Strategic geographic expansion into new markets contributes to their growth strategy.

Risks:

• Elevated interest rates and economic slowdown concerns have caused buyer hesitancy, impacting demand.

• Trade-offs are necessary in pricing adjustments to maintain sales momentum amid these economic pressures.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.