By Connor Hart
KB Home now expects housing revenue of $6.6 billion to $7 billion in its fiscal 2025, down from a prior projection of $7 billion to $7.5 billion. For its three months ended Feb. 28, the company posted earnings of $1.49 a share on revenue of $1.39 billion, missing analyst views for earnings of $1.57 a share on revenue of $1.5 billion. Chief Executive Jeff Mezger said consumer confidence has declined sequentially each month for the past several months. Shares fall 7.3%, to $57.30, in after-hours trading.
UniFirst will not be bought by Cintas. Workplace-products company Cintas earlier this year proposed buying UniFirst for $275 a share, but the uniform supplier rejected the offer, citing the price, execution risks and feedback from large shareholders. UniFirst shares sink 8.9%, to $180, in postmarket trading.
Cadence Bank received the regulatory approvals required to complete its merger with FCB Financial, the bank-holding company for First Chatham Bank. The merger is expected to be effective May 1. Under the deal's terms, Cadence will issue 2.3 million shares of common stock and pay $23.1 million in cash for all outstanding shares of FCB Financial. Shares rise 5%, to $32.90, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 24, 2025 19:18 ET (23:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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