KB Home (KBH) Prelim. Quarter-to-Date Net Orders Already up 25% in Q1

KB Home (NYSE: KBH) reported preliminary quarter-to-date net order and community count information for its first fiscal quarter of 2015. Net orders for new homes were 1,499 quarter-to-date through February 6, 2015, representing an increase of 25%, compared to net orders of 1,201 through February 7 in the first quarter of last year. The current year quarter-to-date net order value rose 26% to $519.2 million, up from $413.7 million in the year earlier quarter-to-date period. The Company has opened 19 new communities quarter-to-date through February 6, 2015. At the start of the quarter, the Company had 227 communities open for sales, up 19% from 191 communities at the same time a year ago.

"We have achieved significant year-over-year increases in our net orders and net order value driven primarily by the successful execution of our community count growth strategy," said Jeffrey Mezger, president and chief executive officer of KB Home. "Based on our expanding community count and the strength of our recent net order results, we are optimistic about the spring selling season. We believe the momentum of these favorable trends, in combination with our solid backlog, support a positive revenue outlook for the remainder of the year, particularly in the third and fourth quarters.”

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