KB Home (KBH) Tops Q4 EPS by 19c

January 12, 2021 4:11 PM EST

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KB Home (NYSE: KBH) reported Q4 EPS of $1.12, $0.19 better than the analyst estimate of $0.93. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.14 billion.

“We had a strong finish to this extraordinary year, particularly with the 42% year-over-year increase in our fourth quarter net orders,” said Jeffrey Mezger, Chairman, President and Chief Executive Officer. “Housing market conditions continue to be robust, as the pandemic has helped propel demand for homeownership, accentuating all the financial, health, safety and emotional benefits it offers. This fundamental shift has long been anticipated — with pent-up demographic forces, a housing supply shortage, and favorable mortgage interest rates — and COVID-19 has accelerated these dynamics. In addition to generating strong net order growth, we also expanded our gross margin in the fourth quarter to 21%, excluding inventory-related charges, a level that we believe we can sustain for our 2021 fiscal year.”

“With the substantial increase in our backlog, we enter the new year well positioned to both expand our scale and deliver that growth at superior margins. Our favorable outlook is supported by the composition of our backlog, a strong line-up of planned community openings, and a leaner, more efficient operation. Most notably, we expect meaningfully higher revenue and earnings in 2021 to drive significant expansion of our return on equity.”

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



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