LOS ANGELES–(BUSINESS WIRE) – KB Home (NYSE: KBH) today announced early quarter net orders for its second quarter 2021, alongside the company’s planned senior public offering. Through May 21, 2021, the Company’s net orders totaled 3,961, an increase of 155%, compared to the net orders of 1,556 for the corresponding period of 2020, during which the net orders were affected by the epidemic of the COVID-19 pandemic. The company’s second quarter 2021 will end on May 31, 2021.
About KB Home
KB Home is one of the largest and most recognized home builders in the United States, and has been building quality homes for over 60 years. Today, KB Home operates in 45 markets across eight states, serving a wide range of buyer groups. What sets us apart is the way we give our clients the ability to customize their homes, from living plans and floor plans to cabinets and counters, at a price that fits their budget. We’re the first builder to build every home we build ENERGY STAR® approved. In fact, we go beyond EPA requirements by ensuring that every ENERGY STAR certified KB home has been tested and verified by a third-party inspector to meet stringent EPA certification standards, which help reduce cost of ownership and to build our new homes. healthier and more comfortable than the new ones without certification. We also work with our clients every step of the way, building strong personal relationships so that they have a real partner in the home buying process, and the experience is as straightforward and easy as it gets. Learn more about how we build relationship-based homes by visiting kbhome.com.
Forward-looking statements and cautions
Certain matters addressed in this press release, including statements of a predictive nature or concerning future market and economic conditions, business and prospects, our future financial and operational performance, or our future actions and their expected results are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and projections regarding future events and are not guarantees of future performance. We do not have a specific policy or intention to update or revise any forward-looking statements. Actual events and results may differ materially from those expressed or anticipated in forward-looking statements due to a number of factors. The most important risk factors that could cause our actual performance and future events and actions to differ materially from these forward-looking statements include, but are not limited to: general economic, employment and Business; population growth, household formation and demographic trends; conditions in the capital, credit and capital markets; our ability to access external sources of finance and raise capital through the issuance of common stock, debt or other securities, and / or project finance, on favorable terms; the execution of any redemption of securities in accordance with the authorization of our board of directors; the costs and availability of materials and trade, especially lumber; consumer and producer price inflation; changes in interest rates; our level of indebtedness, including our debt-to-capital ratio, and our ability to adjust our level of indebtedness and our schedule; our compliance with the terms of our revolving credit facility; the volatility of the market price of our common shares; low or waning consumer confidence, either general or specific, in buying a home; home selling prices, including the selling prices of our homes, increasing faster than consumer incomes; competition from other sellers of new and resale homes; weather events, significant natural disasters and other climatic and environmental factors; any failure of legislators to agree on a budget or appropriation bill to fund federal government operations, and the reactions of financial markets and businesses to such failure; government measures, policies, programs and regulations targeting or affecting the housing market (including the Coronavirus Help, Relief and Economic Security Act relief provisions for outstanding mortgages and any extension or expansion of these, the tax benefits associated with buying and owning a home, and the standards, fees and size limits applicable to the purchase or insurance of mortgages by public enterprises and government agencies), the residential construction industry or construction activities; changes in existing tax laws or corporate tax rates adopted, including those resulting from regulatory guidelines and interpretations issued in this regard; changes in US trade policies, including the imposition of tariffs and duties on residential construction materials and products, and related trade disputes and retaliatory measures taken by other countries; the adoption of new or modified financial accounting standards and the related indications and / or interpretations; the availability and cost of land in desirable areas and our ability to timely develop acquired plots of land and open up new home communities; our experience with warranty claims with respect to homes already delivered and the actual warranty costs incurred; costs and / or charges resulting from regulatory compliance requirements or legal, arbitration or regulatory proceedings, investigations, claims or settlements, including adverse outcomes in such matters resulting in actual or potential pecuniary damages, penalties, fines or other direct or indirect payments, or injunctions, consent decrees or other voluntary or involuntary restrictions or adjustments to our operations or business practices that exceed our current expectations and / or regularizations; our ability to use / realize the net deferred tax assets we have generated; our ability to successfully implement our current and planned strategies and initiatives related to our products, geographic positioning and market positioning, to gain share and scale in our served markets and to enter new ones markets; our operational and investment focus on the California markets; consumer interest in our new residential communities and products, particularly from first-time home buyers and high-income consumers; our ability to generate orders and convert our order backlog into door-to-door deliveries and revenue, particularly in key California markets; our ability to successfully execute our business strategies and to achieve associated financial and operational targets and objectives, including those discussed in this press release or in other public filings, presentations or disclosures; the volatility of the tax charge associated with stock-based compensation; the ability of our home buyers to obtain residential mortgages and mortgage banking services; the performance of mortgage lenders towards our home buyers; the performance of KBHS Home Loans, LLC, our mortgage banking joint venture with Stearns Ventures, LLC; information technology failures and data security breaches; an epidemic or pandemic (such as the epidemic and global spread of COVID-19), and countermeasures that governments, agencies, law enforcement and / or international, federal, state and international health authorities are implementing to deal with it, which may (as with COVID-19) precipitate or exacerbate one or more of the above-mentioned and / or other risks, and significantly disrupt or prevent us from operating our business in the normal course for a prolonged period; the continuation of widespread protests and civil unrest associated with efforts to institute law enforcement and other social and political reforms, and the impacts of implementing or failing to implement such reforms; and other events beyond our control. Please refer to our periodic reports and other documents filed with the Securities and Exchange Commission for a further discussion of these risks and other risks and uncertainties applicable to our business.