Homebuilder KB Residence (NYSE: KBH) on Tuesday introduced monetary outcomes for the second quarter of 2024, reporting a rise in internet earnings. Revenues have been down 3%.
The corporate’s internet earnings elevated to $168.4 million or $2.15 per share within the second quarter from $164.4 million or $1.94 per share within the comparable interval of 2023.
At $1.71 billion, Q2 revenues have been down 3% year-over-year. The highest line was negatively impacted by weak efficiency by the core Homebuilding phase.
“Buyers remained resilient in their desire for homeownership despite the volatility in mortgage interest rates. Our pace of monthly net orders per community was one of our highest second quarter levels in many years, which we believe reflected the compelling personalized choice that our Built to Order model offers to meet each buyer’s lifestyle and budget,” mentioned Jeffrey Mezger, chief govt officer of KB Residence.
