KB Home (NYSE: KBH) has exceeded expectations in its second-quarter earnings report, with earnings per share (EPS) coming in at $2.15, surpassing the analyst estimate of $1.80. The revenue for the quarter reached $1.71 billion, higher than the consensus estimate of $1.65 billion.

In addition to the impressive Q2 results, KB Home has provided guidance for its full-year 2024 performance. The company anticipates housing revenues in the range of $6.70 billion to $6.90 billion, with an average selling price between $485,000 and $495,000. Homebuilding operating income as a percentage of revenues is projected to be between 11.0% and 11.4%, assuming no inventory-related charges. The housing gross profit margin is expected to fall within the range of 21.1% to 21.5%, with selling, general, and administrative expenses accounting for approximately 10.1% of housing revenues. The effective tax rate is estimated to be around 23.0%, with an ending community count ranging from 250 to 255.

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KB Home’s positive performance in Q2 and its optimistic guidance for the full year indicate a strong outlook for the company in the housing market. Investors and analysts are closely monitoring the developments at KB Home as it continues to deliver solid results and strategic insights into the industry.