KB Home (KBH) Tops Q2 EPS by 11c
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KB Home (NYSE: KBH) reported Q2 EPS of $0.51, $0.11 better than the analyst estimate of $0.40. Revenue for the quarter came in at $1.02 million versus the consensus estimate of $936.35 million.
Backlog and Net Orders (comparisons on a year-over-year basis)
- Net orders grew by 532, or 15%, to 4,064, with net order value increasing by $170.7 million, or 13%, to $1.53 billion.
- Both net orders and net order value rose in each of the Company’s four regions.
- Company-wide, net orders per community averaged 5.4 per month, compared to 5.5 per month.
- The cancellation rate as a percentage of gross orders improved to 15% from 18%.
- The number of homes in ending backlog increased 2% to 5,927.
- Ending backlog value decreased to $2.17 billion from $2.24 billion, mainly due to the lower average selling price of the homes in backlog within the Company’s West Coast region.
- Average community count increased 17% to 252. Ending community count grew 21% to 255. The improvement in the Company’s average and ending community counts reflected increases in each of its four regions.
For earnings history and earnings-related data on KB Home (KBH) click here.
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