KB Home (KBH) Tops Q1 EPS by 2c

KB Home (NYSE: KBH) reported Q1 EPS of $0.15, $0.02 better than the analyst estimate of $0.13. Revenue for the quarter came in at $818.6 million versus the consensus estimate of $802.79 million.

• Revenues Up 21% to $818.6 Million
• Net Orders Increase 14% to 2,580; Net Order Value Up 32% to $1.09 Billion

“Building on our 2016 accomplishments, we delivered a solid financial and operational performance in the first quarter and extended the upward trajectory of our business,” said Jeffrey Mezger, chairman, president and chief executive officer. “With double-digit year-over-year growth in deliveries, revenues, pretax income, net orders and backlog, we are benefiting from the effective execution of our core business strategy and a favorable housing environment supported by healthy demand and constrained supply. We are seeing particular strength in California, our largest market, where we had significant year-over-year improvement in many key metrics. Company-wide, our operations are maintaining a strong cadence that is producing more reliable, predictable results.”

“We continue to progress on our returns-focused growth roadmap, which includes expanding the scale of our business within our current geographic footprint, increasing our operating income margin, generating cash from operations to support a balanced approach to future growth, reducing debt and improving our leverage ratio,” said Mezger. “In alignment with this strategy, we completed the early redemption of $100 million of our senior notes in the quarter using internally generated cash. Based on the steadily increasing momentum we have sustained over the past few years, and the positive start to 2017, we believe we are well positioned to achieve our objectives for the year.”

Backlog Value Increases 25% to $1.79 Billion

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

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