KB Home Reports Earnings Results for the Second Quarter and Six Months Ended May 31, 2022
June 22, 2022 at 04:20 pm EDT
Share
KB Home reported earnings results for the second quarter and six months ended May 31, 2022. For the second quarter, the company reported sales was USD 1,714.83 million compared to USD 1,436.04 million a year ago. Revenue was USD 1,720.06 million compared to USD 1,440.89 million a year ago. Net income was USD 210.67 million compared to USD 143.36 million a year ago. Basic earnings per share from continuing operations was USD 2.39 compared to USD 1.55 a year ago. Diluted earnings per share from continuing operations was USD 2.32 compared to USD 1.5 a year ago.
For the six months, sales was USD 3,108.98 million compared to USD 2,574.04 million a year ago. Revenue was USD 3,118.85 million compared to USD 2,582.63 million a year ago. Net income was USD 344.93 million compared to USD 240.42 million a year ago. Basic earnings per share from continuing operations was USD 3.9 compared to USD 2.6 a year ago. Diluted earnings per share from continuing operations was USD 3.79 compared to USD 2.52 a year ago.
KB Home is a homebuilding company. The Company's segments include homebuilding and financial services. The homebuilding segment is engaged in the acquisition and development of land primarily for residential purposes. The Company builds a variety of new homes, including attached and detached single-family residential homes, townhomes and condominiums, designed for first-time and first move-up, as well as second move-up and active adult, homebuyers. It offers homes in development communities, at urban in-fill locations and as part of mixed-use projects. The financial services segment offers various insurance products to its homebuyers in the markets where the Company builds homes and provides title services in certain of those markets. Its financial services also provide mortgage banking services, including residential consumer mortgage loan originations, to its homebuyers indirectly through KBHS Home Loans, LLC, an unconsolidated joint venture between the Company and a third party.
KB HOME 
