KB Home Authorizes $500M Stock Repurchase Program
Ticker: KBH · Form: 8-K · Filed: 2024-03-20T00:00:00.000Z
Sentiment: bullish
Topics: stock-repurchase, shareholder-returns, financial-news
TL;DR
KB Home just authorized a massive $500M buyback, signaling confidence and shareholder returns.
AI Summary
KB Home announced on March 20, 2024, that its Board of Directors has authorized a new stock repurchase program. The company is authorized to repurchase up to $500 million of its common stock through March 20, 2026.
Why It Matters
This significant stock repurchase authorization signals KB Home's confidence in its financial position and its commitment to returning value to shareholders.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a stock repurchase program, which is generally a positive or neutral event.
Key Numbers
- $500M — Stock Repurchase Authorization (Amount authorized for KB Home to repurchase its common stock.)
- 2 years — Repurchase Program Duration (The program is authorized through March 20, 2026.)
Key Players & Entities
- KB Home (company) — Registrant
- $500 million (dollar_amount) — Stock repurchase authorization amount
- March 20, 2026 (date) — Expiration date of repurchase program
- March 20, 2024 (date) — Date of report and authorization
FAQ
What is the total amount authorized for KB Home's new stock repurchase program?
The Board of Directors has authorized KB Home to repurchase up to $500 million of its common stock.
When does the new stock repurchase program expire?
The repurchase program is authorized to continue through March 20, 2026.
What is the date of this 8-K filing and the earliest event reported?
The date of the report and the earliest event reported is March 20, 2024.
What is the primary purpose of this 8-K filing?
The filing is to report the authorization of a new stock repurchase program by KB Home's Board of Directors.
Under which section of the Securities Exchange Act is this report filed?
This report is filed pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934.
Filing Stats: 578 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-03-20 16:20:14
Key Financial Figures
- $1.00 — ch registered Common Stock (par value $1.00 per share) KBH New York Stock Exchang
Filing Documents
- kbh-20240320.htm (8-K) — 31KB
- exh991kbh-earningsrelease0.htm (EX-99.1) — 194KB
- headera08.jpg (GRAPHIC) — 27KB
- 0000795266-24-000056.txt ( ) — 456KB
- kbh-20240320.xsd (EX-101.SCH) — 2KB
- kbh-20240320_def.xml (EX-101.DEF) — 15KB
- kbh-20240320_lab.xml (EX-101.LAB) — 26KB
- kbh-20240320_pre.xml (EX-101.PRE) — 24KB
- kbh-20240320_htm.xml (XML) — 4KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On March 20, 2024 , KB Home issued a press release announcing its results of operations for the three months ended February 29, 2024. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein. The information in this report, including Exhibit 99.1 attached hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . 99.1 Press release dated March 20, 2024 announcing KB Home's results of operations for the three months ended February 29, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 EXHIBIT INDEX Exhibit No. Description 99.1 Press release dated March 20, 2024 announcing KB Home's results of operations for the three months ended February 29, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 20, 2024 KB Home By: /s/ Jeff J. Kaminski Jeff J. Kaminski Executive Vice President and Chief Financial Officer 4