KB Home Doesn't Predict Big Hit from California Wildfires But Rebuild Will Take Time -- Market Talk
1332 ET - KB Home CEO Jeffrey Mezger says it will take a long time to rebuild from the devastation littered throughout Southern California. "There's going to be a lot of challenges here on utility crews to rebuild infrastructure. We have assumptions in our community openings and maybe a community loses another couple of months...because we can't get power," says Mezger. "That may be a potential, but I don't see a big hit to labor or material necessarily." California represents about a third of the homebuilder's business. The disaster in Los Angeles could prove the most expensive fire in modern global history, and the damage will continue as the wildfires have yet to be fully contained. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 14, 2025 13:32 ET (18:32 GMT)
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