This Week: KB Home earns, consumer prices, Delta earns
Jan 8, 2023, 3:10 PM | Updated: Jan 9, 2023, 5:55 am
A look at some of the key business events and economic indicators upcoming this week:
HOMEBUILDER SPOTLIGHT
KB Home delivers its fiscal fourth-quarter results Wednesday.
Wall Street predicts the Los Angeles-based homebuilder will report that its earnings and revenue improved in the September-November period compared to the same quarter in 2021. That would echo the company’s results in the first three quarters of its last fiscal year. In September, the builder touted record third-quarter profits, but also noted a shortfall in delivered homes due partly to supply chain constraints.
EYE ON INFLATION
The Labor Department releases its December snapshot of inflation at the consumer level Thursday.
While inflation remains painfully high for American households it has eased in recent months as the Federal Reserve continues its interest rate hiking campaign. Consumer prices rose 7.1% in November from a year earlier, slowing for the fifth straight month. Economists project the December reading will show inflation at the consumer level slowed to 6.5% from a year earlier, the smallest increase since October 2021.
Consumer price index, annual percent change, not seasonally adjusted:
July 8.5
Aug. 8.3
Sept. 8.2
Oct. 7.8
Nov. 7.1
Dec. (est.) 6.5
Source: FactSet
HIGH FLYER
Wall Street expects that Delta Air Lines closed out 2022 with a solid quarterly report card.
Analysts predict the airline will report Friday that its fourth-quarter earnings and revenue increased sharply from a year earlier. That would follow a strong third quarter driven by higher summer fares and the company’s lucrative credit card business, which offset higher fuel prices. In October, the company said advanced bookings pointed to very strong travel demand into early 2023.
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