KB Home (KBH) Tops Q3 EPS by 7c

September 25, 2019 4:11 PM EDT

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KB Home (NYSE: KBH) reported Q3 EPS of $0.73, $0.07 better than the analyst estimate of $0.66. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.17 billion.

Backlog and Net Orders (comparisons on a year-over-year basis)

  • Net orders for the quarter grew 24% to 3,325, with net order value increasing 25% to $1.28 billion.
  • Both net orders and net order value rose in each of the Company’s four regions.
  • Company-wide, net orders per community averaged 4.3 per month, compared to 4.1 per month.
  • The cancellation rate as a percentage of gross orders for the 2019 third quarter improved to 20% from 26%.
  • The Company’s ending backlog rose 14% to 6,230 homes. Ending backlog value grew to $2.30 billion, up 13% from $2.04 billion, with increases in all regions.
  • Average community count for the quarter increased 18% to 255, while ending community count grew 13% to 254. The improvement in average community count reflected growth in each of the Company’s four regions.

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

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