KB Home (KBH) stock soared 9.41% in pre-market trading on Tuesday, buoyed by the homebuilder's strong fiscal fourth-quarter 2024 results that surpassed analysts' expectations and an optimistic outlook for 2025.
The company reported better-than-expected financials for the quarter ended November 30, 2024, driven by higher home deliveries and robust net orders. Revenue climbed 19% year-over-year to $2 billion, exceeding Wall Street estimates, while diluted earnings per share of $2.52 also outperformed projections.
KB Home delivered 3,978 homes in the fourth quarter, a 17% increase from the previous year, while its average selling price rose 3% to $501,000. Net orders surged 41% year-over-year to 2,688, signaling resilient demand for homeownership despite ongoing mortgage interest rate headwinds.
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