KB Home (KBH) Tops Q3 EPS by 9c; Deliveries Rose 6%

September 24, 2013 8:33 AM EDT
KB Home (NYSE: KBH) reported Q3 EPS of $0.30, $0.09 better than the analyst estimate of $0.21. Revenue for the quarter came in at $549 million versus the consensus estimate of $569.3 million.

Homes delivered increased 6% from the third quarter of 2012 to 1,825 homes, representing the eighth consecutive quarter of year-over-year growth.

The overall average selling price grew to $299,100, up $54,000 or 22% from the year-earlier quarter, extending the trend of year-over-year improvement to 13 consecutive quarters. The higher average selling price reflected the Company’s strategic repositioning initiatives and its continued emphasis on pricing discipline to drive profitability.

Potential future housing revenues in backlog at August 31, 2013 increased to $808.5 million, up 9% from $744.7 million at August 31, 2012.

The overall value of 2013 third quarter net orders was $528.9 million, up 7% from $493.3 million in the year-earlier quarter.
The Company's ongoing initiatives include investing in highe

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

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