KB Home (NYSE: KBH), one of the largest homebuilders in the U.S., reported impressive fourth-quarter and full-year 2024 results, reflecting the company's ongoing strength in the housing market.

For the quarter ended November 30, 2024, the company's revenues surged 19% year-over-year to $2.00 billion, exceeding consensus estimates of $1.98 billion. The top-line growth was primarily driven by a 17% increase in homes delivered to 3,978 units, coupled with a 3% rise in the average selling price to $501,000.

KBH's diluted earnings per share (EPS) for the quarter climbed 36% to $2.52, outpacing analysts' expectations of $2.44. The company's net income improved 27% to $190.6 million, benefiting from higher revenues and a better homebuilding operating margin of 11.5%, up 60 basis points from the prior year.

Looking ahead, KB Home provided an optimistic outlook for fiscal 2025, forecasting housing revenues in the range of $7.0 billion to $7.5 billion, with an average selling price between $488,000 and $498,000. The company expects its homebuilding operating income margin to be approximately 10.7%, assuming no inventory-related charges.

The company's backlog and net orders also demonstrated robust growth, indicating strong future demand. KBH's ending backlog value increased to $2.24 billion, while net orders for the quarter rose 41% to 2,688 homes, with a corresponding 41% increase in net order value to $1.32 billion.