KB Home stock up after-hours after earnings report

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KB Home stock up after-hours after earnings report

These stocks are moving after the bell on March 22, 2023.

Earnings per share for the period came in at 16 cents. The stock was under pressure in the after-hours as active customers came in at 20.4 million, down 1.2% compared to the same period last year.

The company's shareholder letter states that the modest decline in active customers reflects the continued softness of discretionary spending experienced across the broader economy, as well as the residual impact of attrition from our 2020 and 2021 cohorts.

Chewy's guidance also sees its adjusted EBITDA margin in 2024 falling 50 basis points year-over-year.

The fiscal 2022 results were our fourth quarter and full year. Chewy produced record high revenue, profitability and free cash flow despite a rapidly changing operating and economic environment, said Sumit Singh, CEO of Chewy's company, in the company's earnings release.

After the builder's latest quarterly results, the stock of KB Home went up in after-hours. The company posted 2,788 deliveries, above estimates of 2,678. KB Home increased its full year housing revenue to between $5.20 billion and $5.90 billion, compared to previous expectations of $5.00 to $6.00 billion.

Our revenues were at the high end of our guidance range and we outperformed our operating and gross margin expectations. Jeffrey Mezger, CEO of KB Home, said in the company's earnings release that we increased our book value per share, to $44.80, up 27% from a year ago.

Mortgages for 30 year fixed rates fell for the first time in five weeks due to banking uncertainties. As we entered the spring selling season, we began to see an increase in demand. Mezger said that this reflected the targeted sales strategies we deployed, along with a stabilizing mortgage interest rate environment.