KB Home (KBH) stock is soaring 6.39% in the pre-market trading session on Wednesday. The homebuilder's shares are rallying after the company reported in-line fiscal 2024 earnings results and received an analyst upgrade.
In its full-year 2024 earnings report, KB Home delivered revenue of $6.93 billion, up 8.1% year-over-year, and net income of $655 million, an increase of 12% compared to the prior year. Earnings per share of $8.76 also showed strong growth. The company's profit margin remained steady at 9.5%.
Additionally, Seaport Research upgraded KB Home's stock rating from Sell to Neutral, citing the homebuilder's stable gross margin guidance for the first quarter of 2025 as better than expected. With the positive earnings results and analyst upgrade, investors are bidding up KB Home's shares in the pre-market session.
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