Rising mortgage rates hit home builders as buyers pull back [CNN]
KB Home (KBH)
Last kb home earnings: 3/26 04:10 pm
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Source: CNN
That is weighing on demand for both new home construction as well as sales of existing homes on the market. Home builders Lennar (LEN) and KB Home (KBH) both reported their latest quarterly results Wednesday afternoon. The two companies each posted a profit that topped analysts' forecasts, but revenue was below Wall Street's expectations. “Sales have clearly been impacted by rising interest rates,” Stuart Miller, Lennar's executive chairman, said in the company's earnings release. Miller added that “there remains a significant national shortage of housing, especially workforce housing, and demand remains strong.” Lennar also reported that orders for new homes fell 12% from a year ago and that it is trying to “navigate the rebalance between price and interest rates.” Mortgage rates are likely to head even higher given the Federal Reserve's series of big interest rate increases and likely plans for even more hikes in the coming months. KB Home chairman and CEO Jeffrey Mezger sa
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News
- KB Home Announces the Grand Opening of Its Newest Master-Planned Community in Heartland, Texas [Yahoo! Finance]Yahoo! Finance
- KB Home Announces the Grand Opening of Its Newest Master-Planned Community in Heartland, TexasBusiness Wire
- KB Home Releases 2023 Sustainability Report [Yahoo! Finance]Yahoo! Finance
- KB Home Releases 2023 Sustainability ReportBusiness Wire
- KB Home (KBH) Cheers Investors With 25% Dividend Hike [Yahoo! Finance]Yahoo! Finance
KBH
Earnings
- 3/20/24 - Beat
KBH
Sec Filings
- 4/24/24 - Form 8-K
- 4/22/24 - Form 4
- 4/22/24 - Form 4
- KBH's page on the SEC website