KB Home (KBH) Tops Q4 EPS by 10c; Updates on Operations

December 19, 2013 8:31 AM EST
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Price: $43.23 --0%

Revenue Growth %: -99.8%

Financial Fact:
Revenues: 3.17M

Today's EPS Names:
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KB Home (NYSE: KBH) reported Q4 EPS of $0.31, $0.10 better than the analyst estimate of $0.21. Revenue for the quarter came in at $618.5 million versus the consensus estimate of $569.55 million.

-- Homes delivered decreased 4% from the fourth quarter of 2012 to 2,038 homes, reflecting a decline in deliveries from the Company’s West Coast homebuilding region that was partially offset by increases in each of the Company’s other three homebuilding regions.

-- The overall average selling price grew to $301,100, up 11% from the year-earlier quarter, extending the Company’s trend of year-over-year increases. The increase in the average selling price reflected the Company’s ongoing investment in higher-performing, choice locations in land constrained growth markets that feature higher household incomes and demand for larger home sizes, as well as incremental revenues generated through lot premiums, options and upgrades, and generally favorable housing market conditions.

-- Potential future housing revenues in backlog at November 30, 2013 increased to $682.5 million, up 10% from $618.6 million at November 30, 2012.

-- The overall value of net orders for the 2013 fourth quarter was $481.7 million, up 5% from $459.3 million in the year-earlier quarter.

-- The Company generated 1,556 net orders in the fourth quarter of 2013, essentially even with the year-earlier quarter.

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

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