5 Stocks in Focus After Posting Their Earnings Reports

2. KB Home (NYSE:KBH)

Number of Hedge Fund Holders: 36

Shares of KB Home (NYSE:KBH) recently plummeted to a nearly 14-month low after missing profit and sales expectations for its fiscal first quarter. The homebuilding company reported earnings of $1.47 per share, up from $1.02 per share in the same period last year.

In addition, KB Home (NYSE:KBH) posted revenue of $1.39 billion, representing a surge of 23 percent on a year-over-year basis. The results fell short of analysts’ average estimate of $1.56 per share for earnings and $1.50 billion for revenue.

KB Home (NYSE:KBH) also issued the sales outlook for its fiscal 2022. It expects to generate revenue in the range of $7.20 – $7.60 billion for the full year.

Discussing the results, CEO Jeffrey Mezger said:

“Market conditions are healthy, driven by a low supply of available inventory and favorable demographics, along with steady employment and wage growth. Against this backdrop, we produced a seasonally strong monthly absorption pace of 6.6 net orders per community, as demand for our personalized homes remained robust.”