RBC Capital Downgrades KB Home (KBH) to Sector Perform

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Go back to RBC Capital Downgrades KB Home (KBH) to Sector Perform

KB HOME (KBH) Misses Q3 EPS by 12c

September 24, 2014 8:32 AM EDT

KB HOME (NYSE: KBH) reported Q3 EPS of $0.28, $0.12 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $589.2 million versus the consensus estimate of $646.8 million.

Adjusted housing gross profits in the quarter were $111.22 million, from $105.35 million in the prior-year quarter.

The Company delivered 1,793 homes in the third quarter, compared to 1,825 homes delivered in the year-earlier quarter. Deliveries in the quarter were tempered by delays in construction schedules and customer mortgage loan closings that resulted in some deliveries being deferred to the fourth... More