KB Home (KBH) Tops Q1 EPS by 3c

KB Home (NYSE: KBH) reported Q1 EPS of $0.14, $0.03 better than the analyst estimate of $0.11. Revenue for the quarter came in at $678.4 million versus the consensus estimate of $633.98 million.

“We are off to a strong start to 2016,” said Jeffrey Mezger, president and chief executive officer. “Solid execution on our key operating strategies drove measurable growth in revenues, operating margin and earnings. We ended the quarter with a healthy backlog and continued positive momentum in our core homebuilding business, reinforcing our favorable outlook for the full year.”

“Our strategic focus this year remains centered on driving profitable growth and enhancing stockholder value,” said Mezger. “We are also committed to maintaining financial strength and flexibility, making focused capital allocation decisions to support our goals and invest in our operating platform, and managing our leverage. Consistent with this balanced approach, we repurchased more than eight million shares of our common stock during the quarter at a significant discount to book value,” concluded Mezger.

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

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