2024-03-20 20:45:25 ET
KB Home (KBH)
Q1 2024 Earnings Conference Call
March 20, 2024, 5:00 PM ET
Company Participants
Jill Peters - Senior Vice President, Investor Relations
Jeff Mezger - Chairman and CEO
Rob McGibney - President and COO
Jeff Kaminski - Executive Vice President and CFO
Bill Hollinger - Senior Vice President and CAO
Thad Johnson - Senior Vice President and Treasurer
Conference Call Participants
Elizabeth Langan - Barclays
Stephen Kim - Evercore ISI
Alan Ratner - Zelman & Associates
John Lovallo - UBS
Susan McCleary - Goldman Sachs
Rafe Jadrosich - Bank of America
Jay McCanless - Wedbush Securities
Presentation
Operator
Good afternoon. My name is John, and I'll be your conference operator today. I would like to welcome everyone to the KB Home 2024 First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Following the company's opening remarks, we will open the lines for questions. Today's conference call is being recorded and will be available for replay at the company's website, kbhome.com, through April 19, 2024.
And now, I would like to turn the call over to Jill Peters, Senior Vice President, Investor Relations. Thank you, Jill. You may begin.
Jill Peters
Thank you, John. Good afternoon, everyone. And thank you for joining us today to review our results for the first quarter of fiscal 2024. On the call are Jeff Mezger, Chairman and Chief Executive Officer; Rob McGibney, President and Chief Operating Officer; Jeff Kaminski, Executive Vice President and Chief Financial Officer; Bill Hollinger, Senior Vice President and Chief Accounting Officer; and Thad Johnson, Senior Vice President and Treasurer.
During this call, items will be discussed that are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results and the company does not undertake any obligation to update them. Due to various factors, including those detailed in today's press release and in our filings with the Securities and Exchange Commission, actual results could be materially different from those stated or implied in the forward-looking statements.
In addition, a reconciliation of the non-GAAP measure of adjusted housing gross profit margin, which excludes inventory-related charges and any other non-GAAP measure referenced during today's discussion to its most directly comparable GAAP measure can be found in today's press release and/or on the Investor Relations page of our website at kbhome.com.
And with that, here is Jeff Mezger.
Jeff Mezger
Thank you, Jill, and good afternoon, everyone. We delivered solid performance in the first quarter, highlighted by our strong net orders, as well as financial results that we were either at or above the high end of our guided ranges.
The spring selling season is off to a very good start, which together with our considerable backlog, better build times and planned new community openings gives us confidence that we are well-positioned to achieve our objectives this year....
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KB Home (KBH) Q1 2024 Earnings Call Transcript