William Lyon Homes (WLH) Tops Q2 EPS by 1c, Slight Miss on Revenues

William Lyon Homes (NYSE: WLH) reported Q2 EPS of $0.49, $0.01 better than the analyst estimate of $0.48. Revenue for the quarter came in at $422.69 million versus the consensus estimate of $423.98 million.

2017 Second Quarter Highlights (Comparison to 2016 Second Quarter)

• Net income available to common stockholders of $19.0 million, up 30%, or $0.49 per diluted share, up 29%
• Home sales revenue of $422.6 million, up 30%
• New home deliveries of 831 homes, up 25%
• Net new home orders of 1,017, up 17%
• Dollar value of orders of $554.0 million, up 31%
• Average sales locations of 88, up 22%
• Average sales price (ASP) of new homes delivered of $508,600, up 4%
• Dollar value of homes in backlog of $755.3 million, up 31%
• Units in backlog of 1,285, up 18%
• Homebuilding gross margin percentage in backlog of 18.3%
• Homebuilding gross margin percentage of 16.5%
• Homebuilding gross margin of $69.6 million, up 23%
• Adjusted homebuilding gross margin percentage of 22.1%
• SG&A percentage of 9.7%, compared to 10.7%
• Pre-Tax Income of $29.5 million, up 30%
• Adjusted EBITDA of $53.3 million, up 10%

For earnings history and earnings-related data on William Lyon Homes (WLH) click here.

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