KB Home reported fiscal first-quarter earnings Wednesday afternoon. Getty ImagesKB Home executives said that issues with supplies and hiring enough workers harmed the company’s ability to complete construction of homes early in 2022, and financial results missed expectations in a Wednesday report, sending shares lower. KB Home KBH, -1.54%reported fiscal first-quarter profit of $134.3 million, or $1.47 a share, up from $1.02 a share a year ago. Total revenue increased to $1.4 billion from $1.14 billion the year prior, while home-building revenue rose to $1.39 billion from $1.14 billion, as KB Home delivered 2,868 homes, roughly even with the year before.Analysts on average expected earnings of $1.54 a share on home-building revenue of more than $1.5 billion, with deliveries of 3,180 homes, according to FactSet. Shares fell more than 4% in after-hours trading, following a 4.7% decline in the regular session.“While we grew our revenues 23%, as the quarter progressed, supply-chain issues intensified and an already constrained construction labor force<\/p>\n","protected":false},"excerpt":{"rendered":"
KB Home executives said that issues with supplies and hiring enough workers harmed the company’s ability to complete construction of homes early in 2022, and financial results missed expectations in<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,47],"tags":[27,49],"class_list":["post-225845","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate","tag-economy","tag-real-estate"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/225845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=225845"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/225845\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=225845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=225845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=225845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}