KB Home (KBH) Tops Q4 EPS by 4c; Backlog Value Rose 35%

KB Home (NYSE: KBH) reported Q4 EPS of $0.10, $0.04 better than the analyst estimate of $0.06. Revenue for the quarter came in at $578.2 million versus the consensus estimate of $567.06 million.

The Company delivered 2,122 homes, up 6% from the year-earlier quarter.

The overall average selling price increased to $270,700, up $32,300 or 14% from $238,400 in the year-earlier quarter.

Potential future housing revenues in backlog at November 30, 2012 rose to $618.6 million, up 35% from $459.0 million at November 30, 2011.

The overall value of net orders generated in the fourth quarter of 2012 grew to $459.3 million, up 25% from $368.6 million in the year-earlier quarter.

Net orders totaled 1,557 in the fourth quarter of 2012, up 4% compared to 1,494 in the year-earlier quarter which had increased 38% from the fourth quarter of 2010. The year-over-year net order comparison for 2012 was impacted by the Company’s lower community count. The Company had 191 new home communities open for sales at the end of the 2012 fourth quarter, down 18% from 234 at the end of the 2011 fourth quarter.

For earnings history and earnings-related data on KB Home (KBH) click here.

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