Profile: KB Home (KBH.N)
KB Home, incorporated on August 31, 1981, is a builder of single-family residential homes, townhomes and condominiums. It constructs and sells homes through its operating divisions under the name KB Home. It operates homebuilding and financial services business serving homebuyers in various markets across the United States. Its homebuilding operations offer a variety of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. It offers homes in development communities, at urban in-fill locations and as part of mixed-use projects. The Company's financial services segment provides insurance services to its homebuyers in the same markets where it builds homes and provides title services in the majority of its markets located within its Central and Southeast homebuilding segments. In May 2014, the Company purchased 78 acres along San Antonio's IH-10 corridor for a new community called Mirabel.
The Company’s homebuilding activities operate in four segments: West Coast, Southwest, Central and Southeast. Its principal operations are in the 10 states and 40 major markets. As of November 30, 2013, its homebuilding segments consisted of ongoing operations located in states, such as West Coast- California; Southwest-Arizona, Nevada and New Mexico; Central- Colorado and Texas, and Southeast- Florida, Maryland, North Carolina and Virginia. During the fiscal year ended November 30, 2013 (fiscal 2013), the Company delivered 7,145 homes. Its homebuilding operations represent most of its business, accounting for 99.4% of its total revenues in fiscal 2013.
The Company’s financial services segment provides insurance services to its homebuyers in the same markets as its homebuilding segments and provides title services in the majority of its markets located within its Central and Southeast homebuilding segments. In addition, this segment earns revenues pursuant to the terms of a marketing services agreement with a preferred mortgage lender that offers mortgage banking services, including mortgage loan originations, to its homebuyers who elect to use the lender. Its financial services operations accounted for .6% of its total revenues in fiscal 2013.
10990 Wilshire Boulevard
LOS ANGELES CA 90024
Company Web Links
- Fitch Teleconference: U.S. Housing, Like Weather, Improving; Today @ 11AM ET
- Fitch Teleconference: U.S. Housing, Like Weather, Improving; Tomorrow @ 11AM ET
- Fitch: U.S. Housing Primed for Accelerated Growth in 2H'14
- KB Home Unveils Asher and Skylar at Playa Vista
- KB Home Declares Third Quarter 2014 Dividend