The New Home Co. (NWHM) Tops Q4 EPS by 1c, Beats on Revenues; Offers 1Q18 & FY18

The New Home Co. (NYSE: NWHM) reported Q4 EPS of $0.65, $0.01 better than the analyst estimate of $0.64. Revenue for the quarter came in at $324.1 million versus the consensus estimate of $295.66 million.

• Total revenues for the 2017 fourth quarter were $324.1 million, compared to $322.4 million in the prior year period. Net income attributable to the Company was $10.5 million, or $0.50 per diluted share, and included a noncash income tax charge of $3.2 million, or ($0.15) per diluted share, attributable to the revaluation of the Company's deferred tax asset related to the reduction in the federal corporate tax rate in connection with the Tax Cuts and Jobs Act enacted in December 2017. Excluding the deferred tax asset charge, net income for the 2017 fourth quarter was $13.7 million*, or $0.65* per diluted share, compared to $13.8 million, or $0.66 per diluted share, in the prior year period.

Guidance

The Company's current estimate for full year guidance for 2018 is as follows:

• Home sales revenue of $600 - $660 million
• Fee building revenue of $110 - $140 million
• Home sales gross margin of 14.5% - 15.0%
• Income from unconsolidated joint ventures of $2 million
• Wholly owned active year-end community count of 20
• Joint venture active year-end community count of 5

The Company's current estimate for the 2018 first quarter is as follows:

• Home sales revenue of $70 - $80 million
• Fee building revenue of $30 - $40 million
• Income from unconsolidated joint ventures of $0.5 million
• Wholly owned active quarter-end community count of 21
• Joint venture active quarter-end community count of 7

For earnings history and earnings-related data on The New Home Co. (NWHM) click here.

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