KB Home (NYSE:KBH) Q3 2024 Earnings Conference Call September 24, 2024 5:00 PM ET
Company Participants
Jill Peters - SVP of IR
Jeffrey Mezger - Chairman and CEO
Robert McGibney - President and COO
Jeff Kaminski - EVP and CFO
Conference Call Participants
Matthew Bouley - Barclays
Stephen Kim - Evercore ISI
John Lovallo - UBS
Alan Ratner - Zelman & Associates
Rafe Jadrosich - Bank of America
Trevor Allinson - Wolfe Research
Jade Rahmani - KBW
Susan Maklari - Goldman Sachs Group, Inc.
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 Third Quarter Earnings Conference Call. Currently, 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 October 24th, 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 third 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, and Bill Hollinger, Senior Vice President and Chief Accounting Officer.
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.
Jeffrey Mezger
Thank you, Jill. Good afternoon, everyone. We achieved double-digit year-over-year growth in revenues and diluted earnings per share in the third quarter. With these results and our expectations for the remainder of this year, we believe we are well positioned to produce about $6.9 billion in revenues in 2024, at a gross margin exceeding 21%. As we work to finish the year strong, we remain focused on growing our community count, maintaining our high levels of customer satisfaction, and executing our personalized Build-to-Order model, offering customers choice and flexibility based on what they value and can afford.