Strong Financial Performance
Fourth quarter revenues reached $2 billion, a significant year-over-year increase driven by a 17% rise in deliveries. Earnings per diluted share grew 36% to $2.52. Total revenues for 2024 increased to roughly $7 billion.
Operational Efficiency Gains
Build times reduced by 28% year-over-year, allowing for quicker backlog conversion. The company opened 106 new communities and achieved the highest level of customer satisfaction in its history.
Return to Shareholders
KB Home returned nearly $120 million to shareholders in Q4, mainly through share repurchases. For 2024, a total of $350 million was returned, representing 6% of shares outstanding.
Solid Housing Market Factors
Strong employment and wage increases, along with demographic trends, continue to drive housing demand, particularly among millennials and Gen Z buyers.