KB Home (NYSE:KBH) reported financial results for the fourth quarter after the market close on Monday. Here’s a rundown of the report.

Q4 Earnings: KB Home reported fourth-quarter revenue of $2 billion, beating analyst estimates of $1.99 billion. The U.S. homebuilder reported fourth-quarter earnings of $2.52 per share, beating analyst estimates of $2.39 per share, according to Benzinga Pro.

Total revenue was up 19% year-over-year. KB Home delivered 3,978 homes in the quarter, up 17% year-over-year. Average selling price was $501,000, up 3%, and net orders climbed 41% year-over-year to 2,688.

“Our higher revenues reflected an increase in deliveries, which were driven by faster build times. Net orders rose roughly 40% year over year, as buyers continued to demonstrate a desire for homeownership and housing market conditions improved relative to last year, despite ongoing mortgage interest rate headwinds,” said Jeffrey Mezger, chairman and CEO of KB Home.

“In 2025, we will remain focused on expanding our scale, profitability and returns. We believe we are poised for growth having invested over $2.8 billion in land acquisition and development in 2024, and we plan to increase our investment again in 2025.”

KB Home said it repurchased $100 million worth of its common stock during the quarter. The company had $700 million remaining under its buyback program as of Nov. 30.

Guidance: KB Home expects full-year 2025 housing revenue to be in the range of $7 billion to $7.5 billion. The company anticipates 2025 average selling prices of $488,000 to $498,000.

KB Home noted that it will provide guidance for the first quarter on its conference call, which is scheduled for 5 p.m. ET.

KBH Price Action: KB Home shares were up 8% at $69.24 at the time of publication Monday, according to Benzinga Pro.

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