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Investing.com – KB Home (NYSE:KBH) reported Wednesday mixed fiscal fourth-quarter results as earnings topped estimates, but revenue fell just short even as strong demand for housing continued to drive up home prices.
KB Home (NYSE:KBH) gained more than 3% in after-hours trading after ending the day 0.6% higher.
For the fourth quarter, EPS was $1.91, up from $1.12 a year ago, beating estimates of $1.77. Revenue rose 41.2% to $1.68 billion, but that was short of estimates of $1.71 billion.
Homes delivered rose 28% to 3,679 on higher average selling price of $451,100, up 9%.
Looking ahead to 2022, housing revenues were guided in the range of $7.20 billion to $7.60 billion on an average selling price in the range of $480,000 to $490,000.
“During the past year, we significantly expanded our production capabilities as we scale our business to meet the healthy demand that is driving the housing market and align our starts to net orders,” the company said.
